Pancake Bunny Hacker Moves $2.9M in Ether After 3 Years
After three years of inactivity, stolen funds worth $2.9M ETH associated with the Pancake Bunny hack were transferred through the privacy protocol Tornado Cash.
Pancake Bunny experienced a flash loan attack in May 2021, losing approximately 697,000 BUNNY tokens and 114,000 BNB. This event significantly impacted the value of the BUNNY token, which plummeted by 95%.
Following the Pancake Bunny breach
Pancake Bunny was ultimately unable to recover the stolen funds and dissolved the protocol, resulting in the formation of a decentralized autonomous organization (DAO).
Three years later, on July 7, a wallet address associated with the Pancake Bunny hacker transferred 1,002 Ether of stolen funds to Tornado Cash to obstruct traceability.
Stolen funds are currently in transit
Following the current market prices, the intruder took approximately $3 million in Ether. The Pancake Bunny exploiter currently possesses $11.4 million of Dai, according to CertiK.
When it comes to safeguarding protocol hacks, crypto security specialists place a significant emphasis on the application of preventive measures. CertiK transferred its suite of 12 blockchain applications in Asia to a cloud computing subsidiary of the Chinese e-commerce giant Alibaba in this endeavor.
CertiK's co-founder, Ronghui Gu, stated:
“For over five years, we have believed in the transformative power of blockchain technology. We look forward to empowering developers with secure blockchain development and deployment through Alibaba Cloud’s platform.”
The transition enables developers to anticipate significant resource requirements during peak hours and leverage Alibaba Cloud's supplementary computing, storage, and distribution resources.
