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News Explorer — Safemoon Chain Hacked for Nearly $9 Million Due to 'Burn Bug'

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Mar 28, 11:43 pm
The Block

Safemoon Chain Hacked for Nearly $9 Million Due to 'Burn Bug'

Safemoon, a BNB chain-based exchange, was compromised earlier today, resulting in close to $9 million being drained from its liquidity pool. A recent update may have introduced a “public burn bug” that facilitated the hack, according to security firm Peckshield. The hacker was able to artificially raise the price of SFM tokens and then sell them back to the liquidity pool.

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