Whats going on in Binance Smart Chain? - page 2.

smyslov

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Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

Binance smart chain developers will not let that happen, they are the answer right now to Ethereum very high and slow transactions, it's the people that created the project in Binance smart chain that should be questioned like all the others, we are one in saying that Binance smart chain is perfectly fine but some of the projects on it are not.
If the project developers that created a project on BSC are good they can patch the loopholes.

zasad@

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This is an analysis of the latest hack - a mistake by developers when forked smart contracts
Hayden Adam- Inventor of the @Uniswap Protocol
https://twitter.com/haydenzadams

https://twitter.com/haydenzadams/status/1398132414199873537
"This thread sounds complicated. Here's what happened very simply.

Uniswap v2 fork removed the only line that enforces x*y=k from core:

So core could very trivially be drained.

This is the line that was removed:
https://github.com/Uniswap/uniswap-v2-core/blob/master/contracts/UniswapV2Pair.sol#L182

iWoNDerWhYTHeyDiDtHAt"

Bohdan820

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These attacks also take place on the ether network, such a fee for high interest. Investing in crypto is always worth expecting such bad outcomes and having received a profit, we do not need to hope for endless growth and take our own from the market until the market takes it from us.

Crypt0Gore

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You can't expect all projects team to be smart asses or professionals so hackers will only hunt for projects that aren't well protected, this isn't an issue with binance smart chain but the fault of the teams, everyone including developers aims to make huge money from crypto so not all will be professionals

MadeMen

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Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

The issue of hackers are really getting out of hand, but it's the responsibility of the exchange developers to ensure that their platform is secured. It's not the fault of binance smart chain in any way. When news like this is trending, every exchange ought to be tighten their security Inorder to avoid being a victim.

Photony

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PeckShield briefly describes the attack process:
1.The attacker borrowed 6,047.13 WBNB flash loans from the PancakeSwap WBNB-BUSDT pool;
2.In BurgerSwap, call the function DemaxPlatform.swapExactTokensForTokens() to convert 6,029 WBNB to 92,677 BURGER;
3.Create counterfeit BURGER-Fake LP on BurgerSwap platform, and issue 100 counterfeit coins and 45,316.6 BURGER;
4.Exchange 100 counterfeit coins into 45,316.6 WBNB;
5.In this step, the attacker attacked the contract through a reentry attack and made another exchange, which was 45,453 BURGER to 4,478.6 WBNB;

wack slacker

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The hasty development of projects on BSC leads to security holes. Hackers rely on vulnerabilities to profit. This situation occurs not only in projects on BSC, but in the past, projects on Ethereum have also encountered these problems. DEFI projects on Ethereum have lost all funds in the liquidity pool due to errors in the source code such as BRZX, SoftLink...

MoneyJ

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With different DeFi players coming to binance chain and the cheap transaction fees that it implements continue to lure in so as malicious hackers . So its inevitable. The good thing to do is for developers to secure there smart contracts and DApps even more.

rahmathidayat93

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Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

The good ones will always be attacked so that others can come to the fore, but at the moment I still believe that BSC will soon have more useful updates to defend their users, because Binance is very serious about building their network for the better.

Beparanf

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Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

Most of the DEX built on BSC has same set of code that's why they've been hackers favorite to attack due to there volume and low security. It's just like free money for them since there platform security is very vulnerable. I don't know how this DEX progress in terms of there coding besides copying one another.

husnija

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The growing popularity of the binance smart chain has attracted hackers to take action, if they can't do the restoration they will charge a fantastic fee because it's so valuable. Maybe with strong defense system nothing will happen

Hannahanto

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This is really serious. I even came across a news : $7 Million Lost in Flash Loan Attack on BSC's BurgerSwap.
BurgerSwap suffered a $7.2 million flash loan attack last night. And Uniswap founder Hayden Adams noted that a key part of the code was changed by the BurgerSwap team, raising suspicions of an inside job. We've gotten several incidents in recently resulting to lost of funds and this is actually making a lot of big investors panic. A situation where someone hacks in and take your life savings is really bad, can even lead to heart failure for advanced people, this is why the binance team needs to double their cyber security because any little leak to the exchange will not just affect the exchange but have an effect in other cryptocurrencies.

zasad@

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Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

Binnace Smart Chain has not been hacked. It is a reliable centralized blockchain

I wrote about attacks on smart contracts in the Binnace Smart Chain.
The reason I think is very simple - developers' mistakes.
Everyone wants to make money on hype.

DeFi hacks [history] (EN)
https://bitcointalksearch.org/topic/defi-hacks-history-5267124

Valak

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Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

I think the development of internet technology is increasingly sophisticated. Those who created the malware didn't stop either. They will attack the latest websites. Especially regarding crypto assets, of course they prefer it. Of course, platform developers must be prepared to face these attacks. Binance has been attacked several times, even this year there has been an attack on Binance. If the BSC is attacked, all platforms that use the BSC smart contract will experience interference.

blackened515

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Quote from: btcltcdigger on May 28, 2021, 01:59:00 PM

Pancakeswap and burgerswap are 1 on 1 clones of Uniswap. Yet uniswap isn't getting bleeded by this attacks. Why? Because gaps on infra layer (the blockchain) have been filled on ETH, but remain on BSC because the devs are clueless

You can't completely put the blame on BSC smart chain network for any reason, these dex built on BSC are to be blamed for developing vulnerable platform for their customers, sushi, bzrx, and other ethereum based coins and projects were also hacked, this doesn't mean bsc as a whole is full of vulnerability, that's not true.

tabas

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Hacks do really happen in exchanges, whether they are swaps that were built on Ethereum or Binance Smart Chain. They're all vulnerable if a hacker sees the exchange security isn't tight.
BSC is just another platform and they must add precautions and additional security for their own exchange because they're the ones that's being targeted not BSC.

pealr12

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Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

Defi generally are vulnerable because there are lot of similar cases before so i don't think this is specific to bsc only, however, it is important that great precaution, if this type of incident if persist can lead to distrust.

btcltcdigger

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Quote from: ryzaadit on May 28, 2021, 01:55:34 PM

Quote from: btcltcdigger on May 28, 2021, 01:45:03 PM

It's because BSC is a cheap chineese copy of ETH.
They couldn't copy most of the security protocols so they just left them out, leading to what you see here

Huh did you see an attacker into the chain ana everyone losing their fund? come one there is nothing problem at all on the chain the problem is on the third service who running on that chain. Hacker and other thing is always attacking an exchange not the chain because is really impossible

For the @OP, that's why the word of "Not your key not your crypto" for store your fund on third platform like exchange or other service is important, because to avoid any kind bad thing happen because attacker always coming to the service not chain you can't hack a crypto but a platform? yes.

Pancakeswap and burgerswap are 1 on 1 clones of Uniswap. Yet uniswap isn't getting bleeded by this attacks. Why? Because gaps on infra layer (the blockchain) have been filled on ETH, but remain on BSC because the devs are clueless

DevFile90

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Quote from: btcltcdigger on May 28, 2021, 01:45:03 PM

Quote from: Jaered on May 28, 2021, 10:26:34 AM

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

It's because BSC is a cheap chineese copy of ETH.
They couldn't copy most of the security protocols so they just left them out, leading to what you see here

I don't think so, even if those projects are running on ETH blockchain the hacks will still happen and the real truth is not all those projects are a victim of real hacks, few of them are responsible for the hacks themselves it's a inside job that's what I meant

ryzaadit

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Quote from: btcltcdigger on May 28, 2021, 01:45:03 PM

It's because BSC is a cheap chineese copy of ETH.
They couldn't copy most of the security protocols so they just left them out, leading to what you see here

Huh did you see an attacker into the chain ana everyone losing their fund? come one there is nothing problem at all on the chain the problem is on the third service who running on that chain. Hacker and other thing is always attacking an exchange not the chain because is really impossible

For the @OP, that's why the word of "Not your key not your crypto" for store your fund on third platform like exchange or other service is important, because to avoid any kind bad thing happen because attacker always coming to the service not chain you can't hack a crypto but a platform? yes.

Topic: Whats going on in Binance Smart Chain? - page 2. (Read 251 times)