Crypto Exchange Safemoon Loses $8.9 Million To Hacker Who Exploited Its “Public Burn Bug”

BNB chain-based exchange Safemoon has been compromised and has seen close to $9 million drained from its liquidity pool.

Safemoon tweeted that “almost $8.9 million in assets were transferred out of the liquidity pool."

Security firm Peckshield blamed the exploit on a possible “public burn bug” introduced in a recent update.

Peckshield confirmed that the hacker artificially raised the price of SFM tokens using a code function, and then sold enough tokens back to the liquidity pool in the same transaction to effectively drain WBNB from the contract.


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