PancakeHunny Incident Report
Dear Community,
Here is an incident report on the exploit that happened.
What happened?
On 20 October 2021, at 0920 UTC. A smart contract was created to exploit the Hunny TUSD vault. The Contract was subsequently executed 26 times. This is the sequence of events.
- Obtained a 53.25 BTC Flashloan from Cream Finance.
- Used 53.25 BTC to get a 2,717,107 TUSD Loan from Venus.
- Manipulated the price of BNB/TUSD Pool on PancakeSwap.
- Used 50 different Wallet Addresses to Deposit 38,250 TUSD into HUNNY TUSD Vault.
- Redeemed 2842.16TUSD and Minted 12,020.40 Hunny.
- Sold Minted Hunny for 7.78 WBNB.
- Steps Repeated for 50 wallets 26 times.
What immediate actions did we take?
We have stopped the minting process for the TUSD Vault. Funds in Hives are all SAFU.
We have taken immediate action to protect our users from any further potential issues that could arise.
What was affected
All other Hives and Vaults are unaffected. Funds are SAFU. The exploit only affected the price of HUNNY.
Going Forward
We have identified the issue and we will change our routing to higher liquidity pools to prevent the aftereffects of price manipulation of LP pools.
We will inform our community of a more detailed moving forward plan within 24 hours. Stay tuned.
All funds are SAFU, the exploit only caused a dip in Hunny Prices.
Keep Hodling, we have come so far, and we are not stopping.
About Hunny
🌐 Website: https://hunny.finance/
💬 Telegram: https://t.me/hunnyfinance
💬 Telegram: https://t.me/hunnyplay
💬 Telegram ANN: https://t.me/HunnyFinanceNews
🐦 Twitter: https://twitter.com/HunnyFinance
👾 Reddit: https://www.reddit.com/r/HunnyFinance/
📝 Medium: https://medium.com/HunnyFinance
📄 Whitepaper: https://docs.hunny.finance/
👨💻 GitHub: https://github.com/hunnyfinance
📧 Email: marketing@hunny.finance
