In another news from the crypto market crash, Binance Smart Chain-based DeFi token Pancake Bunny (BUNNY) tanked 99% following a flash loan attack. A massive 700K BUNNY coins were liquidated and sold into BNB and ETH.
The BUNNY price came all the way crashing down from $167 to $25 in flash seconds. However, some of the publications noted that $1 Billion worth of BUNNY Finance coins were minted and stolen from BSC. But Bunny finance Twitter handle confirms that this was purely an economic exploit and the vaults have been compromised. The announcement states:
“Today at 10:34 UTC, PancakeBunny was attacked with an economic exploit that crashed the price of BUNNY. None of the vaults have been compromised. Team Bunny is currently working on solutions and will provide a report as soon as possible.”
The BUNNY Finance developers are working to solve the issue with withdrawals. The platform announced that although the transactions cannot be reversed, the BUNNY team is working to reimburse the lost amount.
Developers working for Swift Withdrawals
The Bunny team has ensured that its developers are currently working for a swift withdrawal of the user funds. The developers expect the matter to be resolved in a few hours. Also, Bunny Finance is willing to forego the withdrawal fee. The message reads:
Trending Stories
When users withdraw, they will not pay the 30% performance fee as we have disabled the minting function in order to enable a smooth withdrawal process. This means for the time being, users will simply get their deposits + pool profits, excluding any bunny. Please be aware that there are some articles with an inaccurate amount of losses. Please stay tuned for the updates”.
- Whales Eye Litecoin Ahead Of Major Update, Here’s Why
- U.S. Is Winning Bitcoin Mining Race But China Still Not Out Of Picture: Report
- Stablecoin Meltdown: This Token Loses $7 Billion Within A Week
- Just-In: Polygon (MATIC) Releases Nightfall Mainnet Beta; Here’s Why It’s A Big Deal
- Ripple (XRP) Price Jumps Over 4%, Here’s Why
- Coinbase Cuts Down Hiring After Q1 Losses Hit $420 Million
- Shiba Inu (SHIB) Price Soars 6% In A Day, Here’s Why
- KuCoin Lists $UST Crisis Born Stablecoin $USDD; Details
- WOO Network Halts Terra’s LUNA Trading Just Hours After Relisting It
- Terra Crash Spilled Over Into Other L-1 Blockchains, Here’s How
- Ripple Price Analysis: XRP Price Remains Pressured Below $0.45
- EGLD Price Analysis: Decreasing Volume Hints EGLD to Reverse from $75
- Cardano Price Analysis: ADA Price Prepares For 22% Jump; Are You Holding?
- Bitcoin Price Analysis: BTC Price Holds Above $30,000; Opportunity To Buy?
- Ethereum Price Analysis: ETH Price Erases Recovery Gains Towards $2,000
- Decentraland Price Analysis: MANA Price Sinks 10%; Are You Still Holding?
- Bitcoin Price Analysis: BTC Price Under Bear’s Spell; Is $26,000 On Cards Again?
- ETH Price Analysis: Consolidation Range Soon To Launch ETH Above $2250
- Bitcoin Price Analysis: Triangle Breakout Sets BTC Rally To $32000 Mark
- LUNA Price Analysis: Opportunity to Buy Cheap or A Bull Trap?