PancakeBunny tanks 96% following $200M flash loan exploit
Users may receive incentives by depositing and locking up Liquidity Provider tokens. The obtained LP token rewards can be farmed on the PancakeSwap platform, which allows users to accumulate CAKE. Even a Haechi audit couldn’t protect the Pancake Bunny from the awesome power of flash loan attack, earning them joint third position on the rekt leaderboard. The flash loan attacks are a growing problem for Binance Smart Chain, or BSC, an “Ethereum killer” blockchain that has seen roaring growth recently. Beyond that, Team Bunny came up with a way to compensate BUNNY holders for their losses on May 20.
The current forecast for Pancake Bunny in 2023 is Neutral, which means that the company is doing well and is expected to continue to do so. Pancake Bunny is a good investment because it is doing well now and is expected to continue to do so in the future. Needs to review the security of your connection before proceeding. According to some reports, large transactions on Ethereumcan regularly cost more than $100. This trend has begun to change, but Ethereum is still currently more expensive. On the other hand, a BSC transaction rarely surpasses even $0.25.
Pancake Bunny is yet another food-themed De-Fi protocol running on the Binance Smart Chain Network with currently more than US$600 million total value locked into its farming pools. Adding strategies to get more profitability by the Pancake Bunny helps PancakeSwap to expand the investor’s interest. This is the right way to raise the incomes of the entire protocol and specifically native tokens. Liquidity providers in PancakeSwap pools are platform users themselves.
- The team is composed of entrepreneurs and developers with vast experience in social platforms, games, blockchain applications, and quantitative financial services.
- The exact amount of the hack remains to be seen, although by the latest concrete estimates, we are talking about an amount in excess of $30 million, or ~£21.2 million.
- During the beginning of 2021, CAKE’s price action turned extremely bullish amid favourable market conditions and mainstream acceptance of cryptocurrencies.
The Bunny Project was created by a team of developers and blockchain specialists! Like all other Yield Aggregator Projects, we believe our code is who we are! Thus, we will ensure to provide full transparency and let our code speak for itself. How areregular people making returns of as much as 70% in a year with no risk? By properly setting up a FREE Pionex grid bot – click the button to learn more.
And Pancake Bunny was also hacked, which led to criminals stealing more than $200 million. The developers announced an investigation and agreed to return all the stolen funds, but as a result, the price of the coin fell to a local minimum. Coinfomania.com needs to review the security of your connection before proceeding. The exploits on the Binance Smart Chain seem to happen a lot more often recently.
These pancakeswap vs pancake bunny s then aggregate users’ funds to PancakeSwap to earn yield. Unlike Pancake Swap, bunny uses an auto-compounding feature to let its users earn more while investing less. To buy BUNNY tokens, search for the BNB-BUNNY liquidity pool on PancakeSwap. You can then choose how many tokens you want to buy, and the platform will automatically calculate the exchange rate. To execute the transaction, you’ll have to approve it through your crypto wallet. PancakeBunny is the latest DeFi protocol to suffer a flash loan attack, with the exploit increasingly manifesting as a scourge on the decentralized finance sector.
Esports organizations have begun using blockchain to host tournaments and distribute prize pools, according to Dave Harris, managing director of esports investment firm Guinevere Capital. Crypto users will have less friction and more accessibility to assets via MetaMask thanks to the new partnership. We already stated that only Gen 0 Pancake Bunny holders could participate in the PancakeSquad presale and public sale.
This farm incurs a withdrawal fee of 0.5% of the withdrawal amount that will only be applicable while taking out assets within 72 hours of deposit. PanCakeBunny it is a DeFi yield aggregator and optimizer for the Binance Smart Chain, which is used for PancakeSwap . The protocol allows users to earn higher interest on their underlying crypto assets through its advanced yield optimization strategies.