Hackers removed $7.2 million worth of crypto assets from DeFi | NFT News

Hackers removed $7.2 million worth of crypto assets from DeFi BurgerSwap protocol

Another major DeFi protocol based on Binance Smart Chain was hacked. Hackers took about $7.2 million out of the BurgerSwap protocol with a quick credit attack. According to a statement from the developers of BurgerSwap on Twitter, the protocol was attacked using fast credits, a fairly popular method among hackers to extract crypto assets from DeFi protocols.

In a statement, the developers of BurgerSwap say they will try to reimburse users for all losses, which have so far totaled about $7.2 million.

Quick credits allow anyone with even a small amount of assets to access large sums of money within a short period of time. Thus, attackers can manipulate the prices of tokens in the project's vault by distorting the data provided by the platform's oracle, as well as the DEX from which it obtains that data.