Pancake Bunny Hack: Hacker Moves $3M in ETH Through Tornado Cash After Three Years

Three years after the Pancake Bunny flash loan attack, the hacker has moved $3 million in Ether through Tornado Cash. This occurred on July 7, 2024, catching the attention of the crypto community.

Three years after pulling off the Pancake Bunny flash loan attack, the hacker has moved $3 million in Ether through Tornado Cash.

This occurred on July 7, 2024, according to blockchain data.

CertiK, a blockchain security firm, confirmed these details to CoinChapter, adding that the hacker's address had been largely inactive for three years. The sudden movement of funds was a planned effort to avoid detection, CertiK noted.

The hacker still has 4,366 Dai in their main address, out of the total $11.4 million initially stolen.

After the Pancake Bunny Hack

Pancake Bunny, a decentralized finance (DeFi) protocol on the BNB Smart Chain, was hacked in May 2021. The attacker exploited a vulnerability in the protocol's smart contract to manipulate the price of BUNNY tokens and borrow a massive amount of funds.

The total loss in the hack was 697,000 BUNNY tokens and 114,000 BNB, at the time valued at $44 million. This caused a 95% crash in the value of BUNNY tokens.

Despite efforts, Pancake Bunny could not retrieve the stolen funds. The protocol eventually dissolved and transformed into a decentralized autonomous organization (DAO).

The community now governs the remaining funds and decides on future protocols.

CertiK Enhances Security with Alibaba Cloud Migration

CertiK, a leading security-focused ranking platform, has been active in promoting preventive measures against further protocol hacks like the Pancake Bunny hack in 2021.

Recently, CertiK migrated its suite of 12 blockchain applications in Asia to Alibaba Cloud. This aims to provide secure blockchain development and deployment, using Alibaba Cloud’s computing, storage, and distribution resources during peak hours.

According to Ronghui Gu, co-founder of CertiK,

“For over five years, we have believed in the power of blockchain technology. We look forward to empowering developers with secure blockchain development and deployment through Alibaba Cloud's platform.”

CertiK Accused of Extortion in Kraken Vulnerability Probe

CertiK recently identified itself as the “security researcher” involved in a controversial investigation with cryptocurrency exchange Kraken.

Kraken’s chief security officer, Nicholas Percoco, accused CertiK of “extortion” in a blog post. According to Percoco, CertiK refused to return $3 million worth of digital assets unless Kraken agreed to a speculated amount for the bug disclosure.