Flash Loan Attacks Drain 2 Binance Smart Chain Defi Projects for $6 Million – News Bitcoin News – Bitcoin News

Flash Loan Attacks Drain 2 Binance Smart Chain Defi Projects for $6 Million – News Bitcoin News – Bitcoin News


There have been two back-to-back flash loan attacks in a short period of time stemming from two unique Binance Smart Chain decentralized finance (defi) projects. Last Wednesday, the yield-farming platform Pancakebunny lost close to $3 million in a flash loan attack according to reports. The following Sunday, Bogged Finance saw $3 million exploited from a flash loan attack.

Pancakebunny Gets Hit by a Flash Loan Attack – $3 Million Drained

Ever since hackers leveraged flash loans to attack the defi margin trading protocol Bzx, flash loans have been a common attack in the defi world. Flash loans are a type of scheme that allows the issuance of loans within a single transaction or attack. Besides average people leveraging the flash loan construct for fun, malicious actors have found attack parameters in order to drain funds from defi
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