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Problems Abound on BSC as Bunny Finance Suffers Attack

Key Takeaways An attacker has targeted Bunny Finance using a flash loan to manipulate the price of BUNNY. After they sold the tokens, the price crashed 96%. The team says it is working on a reimbursement plan for holders affected. Incidents on Binance Smart Chain have multiplied in recent weeks, while users have expressed concern with the overall health of the network. Share this article An attacker used a flash loan to exploit the Binance Smart Chain yield aggregator Bunny Finance earlier this morning. They dumped BUNNY tokens on the market, causing prices to plummet by 96%. Another Exploit on Binance Smart Chain

DeFi hacks on Binance Smart Chain rise as TVL and volumes increase

DeFi hacks on Binance Smart Chain rise as TVL and volumes increase While Binance Smart Chain expands its footprint, hacks on DeFi protocols housed on the network increase hand in hand. 38191 Total views Follow up Binance Smart Chain, or BSC, was launched in September 2020 as a parallel blockchain to Binance Chain. It enabled the creation of smart contracts and a staking mechanism for the native token of both blockchains, Binance Coin (BNB).  In its brief nine-month existence, there have been a lot of decentralized finance, or DeFi, projects built on it, but there have been numerous instances of hacks on the blockchain’s protocols as well.

Spartan Protocol s System Breached, Over $30 Million Drained from Project

Spartan Protocol’s System Breached, Over $30 Million Drained from Project Last Updated: 04 May 2021 Malicious attacks have swiftly replaced crypto scams as the new favorite way bad actors get their hands on other people’s cryptocurrencies. In a year that has seen crypto getting more recognition, many protocols have been subject to hacks, and the latest is liquidity and synthetics asset provider Spartan Protocol. Spartan Protocol Loses $30 Million Binance Smart Chain hosted decentralized platform Spartan Protocol is the latest victim of a malicious attack that saw over $30 million worth of investors’ funds disappear into thin air. The attack, which was noted by on-chain analysis and security startup PeckShield on Sunday, showed that the hackers could perpetuate the crime due to a flawed liquidity share calculation in the protocol. This anomaly served as the gateway through which the bad actors were able to drain assets from the pool.

Binance Chain DeFi Project Loses $31 Million a Day After Launch

Binance Chain DeFi Project Loses $31 Million a Day After Launch
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