A portion of the stolen funds linked to Pancake Bunny — a decentralized finance protocol on the BNB Smart Chain — were transferred to the Tornado Cash security protocol after three years of inactivity.
Pancake Bunny suffered a Flash Loan Attack in May 2021 and lost approximately 697,000 BUNNY Token and 114,000 BNB, causing the project's BUNNY Token value to drop by 95%.
Consequences of the Pancake Bunny hack
Pancake Bunny was unable to recover the stolen funds and eventually dissolved the protocol, turning it into The DAO.
Three years later, on July 7, a wallet address associated with hacker Pancake Bunny transferred 1,002 stolen Ether (ETH) to Tornado Cash to avoid being traced.
Stolen money is moving after many years
Based on the current market price, the hacker withdrew approximately $3 million in Ether. According to CertiK, hacker Pancake Bunny currently holds 11.4 million USD Dai (Dai).
Cryptocurrency security experts emphasize the importance of preventative measures when it comes to protecting against protocol hacks. In this effort, CertiK migrated its suite of 12 blockchain applications in Asia to a cloud computing subsidiary of Chinese e-commerce giant Alibaba.
Ronghui Gu, co-founder of CertiK said:
For more than five years, we have believed in the transformative power of blockchain technology. We aim to empower developers by developing and deploying secure blockchain through the Alibaba Cloud platform.
The move allows developers with high resource demands during peak hours to utilize Alibaba Cloud's additional compute, storage and distribution resources.
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