Cryptocurrency Q&A
What happened to PancakeBunny?
What happened to PancakeBunny?
CryptoVanguard
Mon Sep 23 2024
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6 answers
1207
Can you explain what exactly transpired with PancakeBunny? I've heard about the recent events, but I'm not entirely clear on the specifics. Did the platform suffer a hack or a security breach? Were user funds compromised? How did the team respond to the situation? And most importantly, what steps are being taken to prevent similar incidents from occurring in the future? As an investor in the crypto space, I'm keen to understand the implications of this event and how it might affect the overall market sentiment.
6 answers
Nicolo
Wed Sep 25 2024
The root cause of this incident stemmed from a vulnerability in the PancakeBunny protocol. This flaw pertained to the mechanism used to determine the quantity of BUNNY governance tokens that would be minted.
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BlockchainBaron
Wed Sep 25 2024
The hacker successfully repaid the flash loans, leaving them with a significant amount of BNB tokens. Specifically, the hacker obtained 114,631 BNB, which translated to approximately $45 million in value.
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SolitudePulse
Tue Sep 24 2024
The minting process was based on a comparison between the amount of BNB and USDT in the pool. Unfortunately, the protocol's design contained an oversight that allowed for an exploit.
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EnchantedSeeker
Tue Sep 24 2024
The hacker took advantage of this flaw by manipulating the pool's BNB and USDT balances, enabling them to mint an excessive number of BUNNY tokens. These tokens were then exchanged for BNB, which was subsequently withdrawn.
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Valeria
Tue Sep 24 2024
The aftermath of this exploit has significant implications for the PancakeBunny protocol and the wider DeFi ecosystem. It underscores the importance of rigorous security audits and ongoing maintenance to prevent similar incidents from occurring.
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