DeFi protocols BurgerSwap (BURGER) and JulSwap (JULD) powered by Binance Smart Chain have come under a “quick credit” attack. BSC is becoming more and more popular, but, unfortunately, the number of incidents related to deceiving users and developers of the platform is also growing.
The BurgerSwap team announced on their Twitter account that they were attacked by an attacker who managed to withdraw more than $7.2 million in 14 transactions. Half of the amount was stolen in the form of project tokens xBURGER and BURGER. In addition to them, the hacker managed to steal the rest of the funds in the equivalent of Ethereum, WBNB, and BUSD. A little later, BurgerSwap clarified the volume of losses in its account:
- 95,000 ROCKS
- 142,000 xBURGER ($1 million)
- 432,000 BURGER ($3.2 million)
- 22,000 BUSD ($22,000)
- 4400 WBNB ($1.6 million)
- 1,400,000 USDT ($1.4 million)
- 2.5 ETH ($6800)
One analyst noted that the attacker managed to steal tokens by performing repeated swaps before updating the reserves used to count the number of tokens involved in transactions.
Another BSC project, JulSwap, was hacked of a similar nature. Its head so far categorically denies the fact of a hack and the presence of an exploit in his Twitter account. He also said that the JulSwap team will tell in more detail about what actually happened soon.
Against the background of the incident, BURGER tokens "sank" by more than 20%. And if yesterday their price exceeded the figure of $9, today it fell to $6.11 per coin. Now the cost of BURGER has grown slightly and now it is trading at $6.29 on the Binance crypto exchange.
As for the JULD token, after the incident, its value fell from above $0.060 to values below $0.035. The token is currently trading at an average of $0.044 on CoinEx.
The frequency of hacking of decentralized projects under the auspices of the BSC has long caused anxiety not only among developers but also among ordinary users of the platform. In addition, such cases sometimes entail false accusations against the developers of the project in fraud, such as exit scams and rug pull.
According to one of the Chinese journalists Wu Blockchain, in May alone, Binance Smart Chain losses due to hacker attacks exceeded $157 million.
This review is not an advertisement or a recommendation to action, but merely an informational one. The publisher and the author are not responsible for your decisions.