• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Analysis of PancakeBunny Exploiter's $2.9M Transfer via Tornado Cash

user avatar

by Giorgi Kostiuk

a year ago


Analysis of PancakeBunny Exploiter's Transfer via Tornado Cash

In a recent revelation, the individual responsible for the PancakeBunny project breach has been identified orchestrating significant fund transfers through Tornado Cash. Having been the mastermind behind the $45 million exploit in May 2021, this exploiter has reemerged to shuffle stolen assets, drawing renewed interest from the digital currency community after a prolonged hiatus.

Recently, the perpetrator of the PancakeBunny breach executed a transaction moving 1002 ETH, valued at $2.9 million, utilizing Tornado Cash for anonymity. This platform is widely utilized for masking transaction details. Security specialists at CertiK Alerts raised the alarm on this transfer, signaling that the funds were funneled through the wallet address 0xd0f2259e0bd71e849143bbc07f4e427bb6f7756b.

The Bunny Finance Exploitation: A Synopsis

The breach that occurred in May 2021, resulting in losses of approximately $45 million for users, was instigated through a flash loan assault. The attacker, by manipulating a substantial asset pool from PancakeSwap, engineered fluctuations in the price of BUNNY tokens.

The exploiter's strategy entailed price distortion via flash loans, artificially inflating BUNNY token values. Subsequently, the artificially boosted tokens were injected into the market, triggering a rapid devaluation and facilitating the siphoning off of significant profits.

Current Asset Holdings of the Exploiter

Despite the substantial transfer of embezzled funds, the exploiter still commands $11.4 million in DAI, housed at wallet address 0x820C.

This case underscores the significance of Tornado Cash in obfuscating the provenance of misappropriated funds, presenting challenges for individual regulators and security specialists in the endeavor to track and recuperate lost cryptocurrencies. While Tornado Cash serves as a tool for privacy enhancement among ordinary users, it is concurrently a favored mechanism for money laundering among cybercriminals.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Algorand (ALGO) Aiming for $0.50: Current Trend Analysis

chest

Algorand (ALGO) price changes after a long decline. Current analysis indicates bullish trends and potential support levels.

user avatarGiorgi Kostiuk

Explore Potential Altcoins: BlockDAG, Chainlink, XRP, and Cardano

chest

Overview of BlockDAG, Chainlink, XRP, and Cardano, their features and relevance in the market.

user avatarGiorgi Kostiuk

WLFI Token Prepares for Trading with $16 Billion Market Valuation

chest

The WLFI token, tied to a DeFi initiative, is set to debut on exchanges with a valuation of $16 billion. Negotiations for exchange listings are ongoing.

user avatarGiorgi Kostiuk

Latest News on Pi Network, Binance Coin, and BlockDAG in the Crypto Space

chest

An overview of the current state of Pi Network, Binance Coin, and BlockDAG in the cryptocurrency market.

user avatarGiorgi Kostiuk

Crypto News: BlockDAG, Mantle, and Ethereum Show Growth

chest

BlockDAG partners with Seattle Seawolves, while price predictions for Mantle and Ethereum turn positive.

user avatarGiorgi Kostiuk

BlockDAG Launches with 7-Day Access Window, VeChain Stays Flat, Pi Coin Drifts

chest

BlockDAG offers unique early access to coins upon launch as VeChain and Pi Coin stabilize at their levels.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.