Hackers Steal $7.2M From DeFi Project BurgerSwap

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BurgerSwap, a decentralized finance (DeFi) project based on the Binance Smart Chain (BSC), the blockchain developed by cryptocurrency exchange Binance, has lost about $7.2M after suffering an attack.

According to the tweed posted by the project, a hacker has used flash loans to steal the funds from the project’s liquidity pools:

BurgerSwap just experienced Flash Loan attack.

We have suspended Swap and BURGER generation to avoid further loss.

Our tech team is working on the issue and will publish the solution later.

More details will be published soon. Thanks for your patience.

— BurgerSwap (@burger_swap) May 28, 2021

The hacker has stolen different cryptocurrencies from the project, including $3.2 million in BURGER tokens, $1.6 million in Wrapped BNB (WBNB) and $1.4 million in Tether (USDT).

The developers of the project have reported they have suspended the generation of more tokens in order to avoid additional losses.

Unfortunately, this is not the first, and probably not the last attack to a project developed on the Binance Smart Chain. For example, this month a hacker stole $200 million from PancakeBunny (BUNNY).