DeFi-Flare Project on BNB Chain Hacked for $17.9 million

An unknown person withdrew assets worth $17.9 million from the Flare DeFi protocol to the BNB Chain. The protocol token has collapsed to zero, PeckShield specialists have noticed.

Experts stressed that we are not talking about the Flare Networks infrastructure project.

The attacker’s prey was approximately 17 million BUSD and 4000 BNB. The hacker sent part of the assets to the Tornado Cash mixing service.

PeckShield allowed the developers to implement a fraudulent rug pull scheme, since 3.9 billion FLARE tokens were withdrawn from the protocol through the withdrawProfit function of an unverified smart contract.

The hacker also entered into correspondence with the team through transactions.

“Could you send me some information about your project? If it’s not a scam, maybe we can talk,” his message says.

In response, the developers assured that “saving the losses of ecosystem users” was a priority for them, and offered e-mail as a further communication channel.

“Of course, we hope that we can solve the problem in a friendly way,” they said.

Recall that October was a record month since the beginning of the year in terms of damage from exploits — about $ 760.2 million. A little more than $100 million of this amount was recovered by the protocols.