Hackers pulled out of the DeFi Belt Finance protocol 50 million BUSD – Bits Media

Decentralized finance platform (DeFi) Belt Finance was hacked this weekend. Hackers deduced 43 million BUSD and received more 6.23 Milln Busd by attack using fast loans.

In an article on the blog developers of the Defi protocol on the Binance Smart Chain blockchain (BSC) Belt Finance reported, that the attacker created a smart contract, who applied Pancakeswap to attack fast loans and withdrew 43 million BUSD, Using the vulnerability in the Beltbusd pool and its strategic protocols. Then the smart contract was executed eight times with a total profit in 6.23 million BUSD.

According to the developers' statement, Beltbusd storage users have lost 21.36% Means, And users of the 4belt pool - 5.51%. No other pools or storages were injured. Generally, The attack applied the Beltbusd pool a total loss in the amount 50 Milln Busd - 43.8 million BUSD in the commissions and 6.23 million BUSD, which attackers received as a profit.

The developers noted, that the withdrawal and introduction of money were suspended, As soon as it became known about the attack, And that vulnerability, which caused an attack, was fixed. The Belt Finance team reported in a blog article, that the withdrawal of money and deposits will be resumed during 24-48 hours, And that the developers think over the "compensation plan", which will be presented in the following 48 hours.

Recall, that last week, hackers led Burgerswap from the protocol $7.2 Milln using an attack using fast loans. In May, the Defi Pancakebunny protocol also underwent a hacker attack using instant loans, as a result of which the attackers brought crypto assets to $200 million. Spartan Protocol, bEarn Fi, Uranium Finance and several other projects at BSC met the same fate.