Share this article
BurgerSwap Hit by Flash Loan Attack Netting Over $7M
The attacks marks yet another exploit of a BSC-enabled DeFi protocol.
Updated Sep 14, 2021, 1:03 p.m. Published May 28, 2021, 8:31 a.m.
Decentralized finance (DeFi) protocol BurgerSwap suffered a flash loan attack that saw hackers make off with around $7.2 million of altcoins.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- BurgerSwap is the latest DeFi protocol on the Binance Smart Chain (BSC) to experience an attack of this nature.
- The attackers created their own "Fake Coin" and formed a trading pair with the protocol's native token BURGER, ultimately changing the latter's price, BurgerSwap said in a series of tweets.
- The exploit led to the theft of some $7.2 million in altcoins, including $3.2 million in BURGER, $1.6 million in wrapped binance coin (WBNB) and $1.4 million in tether.
- BURGER is currently trading at $6.75, a drop of 27% from its 24-hour high of $9.24, according to CoinMarketCap data.
- Recent exploits of DeFi projects built on BSC include an attack for $11 million on auto yield farming protocol bEarn Fi and one on yield-farming aggregator PancakeBunny that may have been worth as much as $3 million.
- The frequency with which these are occurring on BSC is causing alarm in the developer community.
- "BSC is a public permissionless infrastructure so anybody can deploy projects there," Samy Karim, Binance coordinator of business and ecosystem development, said at Consensus 2021. "You have malicious actors there and hacks, and exploits in DeFi are not new and definitely not unique to BSC."
Read more: Rari Capital Reports Exploit in ETH Pool; $15M Taken
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
