The DeFi protocol SafeMoon on BNB Chain was hacked, resulting in a loss of approximately 8.9 million dollars from the liquidity pool

ChainCatcher news reports that the DeFi protocol SafeMoon, based on the BNB Chain, has been hacked, resulting in a loss of approximately $8.9 million from its liquidity pool. The SafeMoon team stated that its LP has been stolen and is taking swift action to address the issue. According to BscScan data, nearly $8.9 million in assets were transferred out of the liquidity pool.

According to Peckshield, a recent update to SafeMoon introduced a "public burn vulnerability," allowing hackers to artificially inflate the price of SFM tokens using code, and then sell enough tokens back to the liquidity pool in the same transaction, effectively draining WBNB from the contract. (CoinDesk)