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On October 11, a MEV bot on the BNB Chain network made a profit of $1.575 million due to an instant loan attack using the BH/USDT trading pair on PancakeSwap, according to EigenPhi.
The cost of arbitrage with the largest profit in the history of BNB Chain from such operations was only $4.16.
According to Beosin experts, the BH token was exploited for about $1.27 million through price manipulation.
The attacker provided a loan in USDT and then exchanged the pair for BH, draining the token's liquidity. The contract provides for a normal ratio of 1 USDT : 100 BH when adding funds. Thanks to the swap, the attacker was able to withdraw approximately 1 USDT : 2 BH each.
According to Beosin, the unknown person sent the received assets to the Tornado Cash mixer.
On October 11, the price of BH unexpectedly soared from the $0.01 level to about $2, paired with USDT on PancakeSwap. This movement was preceded by a sharp drop in quotations. At the time of writing, the token is trading near the $2.1 mark.
The cost of arbitrage with the largest profit in the history of BNB Chain from such operations was only $4.16.
According to Beosin experts, the BH token was exploited for about $1.27 million through price manipulation.
The attacker provided a loan in USDT and then exchanged the pair for BH, draining the token's liquidity. The contract provides for a normal ratio of 1 USDT : 100 BH when adding funds. Thanks to the swap, the attacker was able to withdraw approximately 1 USDT : 2 BH each.
According to Beosin, the unknown person sent the received assets to the Tornado Cash mixer.
On October 11, the price of BH unexpectedly soared from the $0.01 level to about $2, paired with USDT on PancakeSwap. This movement was preceded by a sharp drop in quotations. At the time of writing, the token is trading near the $2.1 mark.
