Huge Losses For bEarn Today As Exploit Of Smart Chain is Discovered

bEarn Fi an automobile that is cross-chain agriculture protocol, had been exploited earlier Sunday EST, causing a loss of near $11 million, according to China-based blockchain analysis firm PeckShield.

It is the attack that is latest on decentralized finance protocols constructed on Binance Smart Chain, among the alleged Ethereum killers that's built by centralized crypto trade giant Binance.

"Dear community, we have been mindful that users' deposit in BUSD have increased significantly," bEarn Fi's official Twitter account wrote at around 9:31 a.m. EST Sunday, May 16. "Please be encouraged we are currently investigating the Alpaca Vault event. No other bVault has been affected but we now have taken a measure that is precautionary temporarily paused withdrawals and deposits for several bVaults."

A spokesperson from PeckShield told CoinDesk in an email that is weChat they've been nevertheless investigating the cause of the assault but the attack on bEarn Fi triggered losses of near $11 million.

On bEarn Fi's Telegram group, users happen bEarn that is asking's downline since very early Sunday morning EST about whether something went wrong because of the Binance USD (BUSD) vault on bEarn Fi.

"Is there a BUSD vault issue?" one user asked at 7:11 AM EST. "It is increasing a great deal that it's impossible."

"we're focusing on it," one team member of bEarn Fi had written, in reaction to users' numerous demands on whether their funds are safe.
Previously in might, another defi that is BSC-based, Spartan Protocol, had been attacked having a lack of a lot more than $30 million.