On August 5, according to on-chain detective ZachXBT, hackers of the once sensational Pancake Bunny project accidentally lost $3.6 million in misappropriated funds 11 hours ago.
Specifically, about 11 hours ago, the hacker's wallet address made a move to disperse money, but this time it seems the hacker made a serious mistake. Instead of transferring Dai to another wallet address, the hacker mistakenly copied the Dai contract into the sending address, causing the transaction to become a transfer of Dai Token to Dai's smart contract.
As a result, the hacker accidentally lost $3.6 million in Dai, because he could not withdraw money from the smart contract.
The PancakeBunny Hack is a fairly famous hack in 2021 when the project suffered losses of up to 200 million USD based on current BNB and BUNNY Token prices.
Specifically, on May 20, 2021, PancakeBunny announced on X about suffering an attack via a Flash Loan , from an outside exploiter.
Summary of the case is as follows:
1. An exploiter staged (and got away with) a PancakeSwap (PCS) attack.
2. By exploiting PCS price discrepancies, hackers intentionally manipulated the prices of USDT / BNB and Bunny/ BNB, obtaining a large amount of Bunny through the use of Flash Loans.
3. Miners dump all Bunny on the market (Ethereum), causing Bunny price to plummet.
4. The miner then escapes the attack by returning the remaining BNB (by mining the price difference from the previous one) on PCS.
As a result of the incident, the attacker earned about 700,000 BUNNY Token and 114,000 BNB Token , worth up to 200 million USD at the price at the time.
Not only that, the hack also caused PancakeBunny's Token to suffer a terrible price drop of 95%. Before the incident BUNNY was trading around $170 according to CoinGecko and after the hack it fell about 95% to $9.30 (according to poocoin.app). BNB price has also been affected with a slide of about 25% on the day from $380 to $290 following the attack.
The PancakeBunny Hack took place in 2021, but it was not until 2024 that the Hacker group made any moves with this mined money, possibly because the Hacker group wanted to avoid attracting community attention to the transfer moves. my money after 3 years or maybe simply...Hackers need money to catch the Dip?
