The Binance smart chain’s BurgerSwap drained $7.2M in the exploit. Moreover, it is the latest in a recent spate of decentralized finance hacks. Amid the attack, they stole varying amounts of 7 different cryptocurrencies.
The amount includes $3.2 million worth of Burger tokens, $1.6 million worth of wrapped BNB, and $1.4 million worth of Tether. In addition, in late 2020, BurgerSwap was launched, and it was thought to be a clone of Uniswap decentralized exchange.
A postmortem into the exploit revealed that the omission of a crucial line of code differentiated Uniswap from Burger Swap. Moreover, this revelation led some social media observers to speculate the BurgersSwap developers were behind the attack themselves.
In addition, the BurgerSwap team announced that they are working on the issue and had suspended the generation of any more tokens to prevent more losses on Friday morning. They tweeted that BurgerSwap experienced a flash loan attack.
Avoid Further Losses
They have suspended Swap and Burger generations to avoid further losses. Moreover, the team is working on the issue and publish a solution later. They also said that they would post more details very soon. Hacks on the Binance Smart chain have become more severe this month.
In addition, they drained $200 million from Pancake Bunny on May 20 and stole $3 million from the Bogged finance on May 24.