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And Another One Flash loan attack on BurgerSwap: attackers get away with USD 7.2 million



Another flash loan attack was carried out on the Binance Smart Chain, in which 7.2 million US dollars were stolen from the DeFi protocol BurgerSwap.

BurgerSwap vulnerability brings attackers $ 7.2 million

The BurgerSwap protocol running on the Binance Smart Chain has suffered an attack. In this attack, the attackers succeeded in gaining over 7 million USD using a flash loan attack.

BurgerSwap was launched at the beginning of this year. It's a DeFi project that allows users to switch between tokens issued at the BSC and earn rewards for providing liquidity. Today the company has the attack on Twitter announced .

The attack took place on May 28th. The attackers chose a fairly common way to exploit the protocol, a flash loan attack. They managed to raise $ 7.2 million through 14 transactions.

The perpetrators created their own FAke Coin and formed a new trading couple with BURGER. Later they set the routing to BURGER -> Fake Coin -> Wrapped BNB.

They used the trading pair BURGER-Fake Coin to get back into BurgerSwap via Fake Coin and manipulated the number of Reserve0 and Reserver1 in the contract, which led to a significant price change.

By re-entering transactions and trading again with WBNB, it was possible to obtain the additional amount of WBNB entered. So they immediately exchanged 6,000 WBNB (2 million USD) from PancakeSwap and then almost all WBNB for 92,000 BURGER on BurgerSwap.

Most recently, they stole 4,400 WBNB ($ 1.6M), 22,000 BUSD, 2.5 ETH ($ 6.8,000), 432,000 BURGER ($ 3.2M), 142,000 xBURGER ($ 1M), and 95,000 ROCKS .

BurgerSwap immediately suspended all services and will likely work to cover users' losses.

In a last attack on the Spartan Protocol in early May, the attackers succeeded in gaining US $ 30 million.

Uranium Finance followed shortly afterwards. This market maker was relieved of $ 50 million. Meerkat Finance attackers managed to reach USD 30 million in March this year.

Although DeFi has many advantages, this area still seems to be very vulnerable to vulnerabilities.

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Comments

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