We sent it back, and then they lost it.
Two months ago PancakeBunny got rekt on BSC, now the same thing has happened on Polygon.
$2.4 million lost, and their second entry earned on our leaderboard. (#33)
They say there’s a plan to compensate their users, so it seems they’re not ready to give up yet.
Despite the growing accusations of it being “an inside job”, the PancakeBunny TVL is slowly returning.
Try not to lose it this time.
From the official post-mortem.
Attacker’s Address: 0xa6021d8c36b2de6ceb4fe281b89d37d2be321431
The attacker made a small deposit in one of the Bunny Vaults and at the same time, made a large deposit directly to MiniChefV2 (SushiSwap)
They then called the function withdrawAll to execute the attack, using the amount deposited in the MiniChefV2 as interest.
The attacker followed the following steps to exploit the polyBUNNY minter:
Deposit 0.000000009416941138 SLP (~19,203 USD) into the polygon.pancakebunny USDT-USDC Vault.
Deposit 0.000023532935903931 SLP (~47,990,975 USD) to the USDT-USDC MiniChefV2 contract on SushiSwap.
This generated a performance fee of 0.000007006743943544 SLP (~14,284,950 USD) and minted 2.1 million polyBUNNY to the attacker
Dump polyBUNNY for WETH
Repay AAVE’s flashloan and exit the attack, gaining 1,281.702952074137533313 ETH.
The price of polyBunny fell from $10 to $1.78.
ApeRocket lost $260K on BSC and $1M on Polygon, yet PancakeBunny didn’t prevent the same thing from happening to them.
Was somebody using the smaller protocol as a test, to check that their technique worked?
If so, why would they risk alerting PancakeBunny to the loophole? Perhaps somehow they knew that wouldn’t be an issue...
Of course, it’s possible that the attackers were not the same person, or that they didn’t realise the same attack vector was possible in the original code.
Somehow that seems unlikely.
Who will send money to PancakeBunny now?
We wish we hadn’t...
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The BSC bloodbath continues. $45 million gone from "PancakeBunny". At its peak, Pancake Bunny had over $10 billion in TVL. At the time of writing, that TVL is down to just over $1 billion. “Aren’t Flash loans Earitating” said the hacker.
Your dollars are not safe and they never were. Just $248k taken from a protocol that was called "SafeDollar."
Over $6.4 million was stolen from users wallets on February 28, thanks to the bad tao of Seneca. Roughly 80% of the funds were returned within a day. Clearly Seneca knew there were issues, but chose the reckless route.