On March 4, 2021 Binance Smart Chain-based yield farming protocol Meerkat Finance lost $31 million in user funds – just one day after launching on the Binance Smart Chain. The attacker drained the project’s vaults of $31 million of funds—13.96 million in Binance’s stablecoin, BUSD, and a further 73,000 BNB, Binance’s crypto, worth about $17.4 million.
Many users argued that the hack was in fact an exit scam perpetrated by the insiders. Meerkat denied the allegations.
For more information see https://www.coindesk.com/policy/2021/03/04/defi-project-meerkat-raises-eyebrows-with-claimed-31m-hack-a-day-after-launch/
