Lately, Binance Smart Chain have been becoming a hotspot for hackers/exploiters. Two days ago, PancakeHunny joined the list of protocol that got exploited in recent hacking spree.
As per PancakeHunny preliminary report, a smart contract was created to exploit the Hunny Minter Smart Contract and was executed 91 times.
Here is the sequence of events...
- wBNB Swap CAKE from PancakeSwap
- Sent CAKE to HUNNY Minter Smart Contract
- Added CAKE-BNB Liquidity from PancakeSwap
- Deposited CAKE-BNB LP tokens to CAKE-BNB Hive
- Redeemed HUNNY Rewards
- Swap Cake Balance to HUNNY-BNB, increase CAKE Balance as per (2)
- Exploited and increased 2,281,142.448 HUNNY supply
As per Pancakehunny they identified the issue and are working towards a patch. Minting of Hunny has been stopped, there has been no stolen funds reported and only price of HUNNY/BNB have been affected.
Despite Biance Smart Chain joining hands with CipherTrace, a leading blockchain security and analytic firm, apparently there is no stopping the exploits/perpetrations happening across the blockchain. There have been growing concerns among devs and crypto enthusiast about security of protocols deployed across Binance Smart Chain.
