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Another decentralized financial protocol was heavily exploited on Friday, May 28, after BurgerSwap (BURGER) on the Binance Smart Chain lost $7.2 million.
In this attack, seven different cryptocurrencies were stolen, including BURGER tokens worth $3.2 million, Wrapped BNB (WBNB) worth $1.6 million, and Tether (USDT) worth $1.4 million. At the time of publication, these funds were still being sold off.
BurgerSwap was launched at the end of 2020 and is considered a clone of Uniswap decentralized exchange. However, post-mortem analysis of the exploit revealed that the omission of key lines of code in Uniswap and BurgerSwap is likely to be the point of attack on Friday.This revelation led some social media observers Speculate The BurgerSwap developers themselves were behind this attack.
The BurgerSwap team announced that it is “solving this problem” and suspended the generation of more tokens on Friday morning to prevent more losses.team Tweet:
“BurgerSwap just experienced [a] Flash loan attack. We have suspended Swap and BURGER generation to avoid further losses. Our technical team is working on this issue, and a solution will be released later. More details will be announced soon. thank you for your patience. “
There are more and more hacking attacks on the Binance Smart Chain this month. $200 million was drained From PancakeBunny (BUNNY) May 20th, and $3 million stolen From Bogged Finance (BOG) on May 24.
CipherTrace, a blockchain security and analysis company recently Announce In response to sudden exploits, it will expand its services to include Binance Smart Chain.
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