Mysterious Hack Attack On This Altcoin: $ 1.8 Million Drained!

🔆🔆🔆This Altcoin has been hacked
According to new reports that have emerged, a few weeks ago, the #Lottery pool of the popular altcoin #PancakeSwap was drained of $ 1.8 million, benefiting from a deficit. Binance Smart Chain continues to see some of the projects built on it being exploited. The most recent attack was done by someone with access to the PancakeSwap admin address.

🔥Hacking attack on popular altcoin PancakeSwap: $ 1.8 million released!
#Robustness has no inherent random function and all sources of randomness must be on-chain. Projects use things like block headers, transaction hashes, and more to generate legitimate sources of randomness, but none are truly random.

This issue has led to exploits in the past, such as the recent #Meebits abuse. Lottery numbers of the popular altcoin project PancakeSwap were created according to certain predictable conditions. The abuser can use this information to predict numbers and thus empty the entire pool. At the time of writing, #CAKE , the token of the crypto money project , is trading at $ 30.9 with an increase of 3 percent.

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Who did the attack and why? Here are the interesting details ...
When the hacking attack occurred, a detailed investigation was conducted and the cause of the abuse was found. This was done by using the administrators' own addresses. While it is true that the manager account uses the abuse and consumes the funds, there is a misconception in the market: it was not an attack and the funds were not stolen. While there was no official statement from the PancakeSwap team on the matter, according to some experts, the incident was clearly a white hat hacker business, with the removal of funds from the contract, preventing a malicious actor from finding the error and exploiting it.

This is evident above all from the fact that PancakeSwap administrators use their known public addresses to perform the exploit. If they wanted to drain the money maliciously, they would use an anonymous account. Second, the funds recovered from the Lottery pool are collectively burned by the admin address. While an exploit is scary and never a good sign, the team's handling of it instills some confidence, proving that PancakeSwap is willing to fix issues when needed.