Decentralized finance attacks are not interrupted. The last victim was BurgerSwap (BURGER).
In the breach that took place on Friday, May 28 (today), $ 7.2 million of crypto was drained from the BurgerSwap platform built on Binance Smart Chain.
Cryptos stolen as a result of flash loan attacks are as follows:
- BURGER token worth $3.2 million
- Wrapped BNB (WBNB) worth $1.6 million
- Tether worth $ 1.4 million (USDT)
- It was also reported that 7 more cryptos in varying amounts were stolen.
Launched towards the end of 2020, BurgerSwap is known as a clone of decentralized exchange Uniswap. According to preliminary reviews, the breach is thought to be due to the negligence of a vital code that distinguishes Uniswap from BurgerSwap.
Such negligence has spurred rumors on social media that BurgerSwap developers could be behind the attack.
The response from the BurgerSwap team was quick. Authorities confirmed the flash loan attack on Twitter and stated that they stopped swap and BURGER token generation to prevent further loss.
On the other hand, this is not the first attack seen on Binance Smart Chain (BSC). Similarly, $ 200 million was stolen from PancakeBunny (BUNNY) on May 20, and $ 3 million from Bogged Finance (BOG) on May 24.
Similar attacks intensify. It is expected that more stringent measures will be taken to increase security in Binance Smart Chain in the coming periods.
Posted Using LeoFinance Beta
Yes, we expect other Defi platforms learn from these attacks and enhance the security. We don't want to put our money in the platform and worried when lose the money.
Posted Using LeoFinance Beta