PancakeSwap V2 Liquidity Pool Hacked
- Attack Overview: The OLPC/LABUBU liquidity pool on PancakeSwap V2 was attacked today, resulting in approximately $1.11 million worth of USDT stolen, with the attacker netting around $960,000, highlighting significant security vulnerabilities in liquidity pools.
- Token Burn Details: During the attack, approximately 51.9 million OLPC and 124,000 LABUBU tokens were burned from the liquidity pool address, indicating that the attacker exploited a mechanism flaw in the liquidity pool, leading to substantial asset depletion.
- Attack Pattern Analysis: Experts suggest that the attack may be related to deflationary tokens or mechanisms that burn tokens during transfers, creating reserve mismatches in fixed-multiplier liquidity pools, which provided an opportunity for the attacker.
- Funds Movement and Money Laundering: The attacker emptied the LABUBU portion of the pool, converting assets through LABUBU/WBNB and WBNB/USDT pools to obtain a total of 1,115,903 USDT, later bridging some funds to the Ethereum network, demonstrating the attacker's laundering tactics.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for CAKE
Technical Sentiment Analysis for PancakeSwap (CAKE). As of , PancakeSwap (CAKE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for CAKE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, CAKE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
PancakeSwap (CAKE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.071 | 1.163 | 1.259 | 1.351 | 1.447 | 1.539 | 1.635 |
| Fibonacci | 1.163 | 1.235 | 1.279 | 1.351 | 1.423 | 1.467 | 1.539 |
About CAKE
About the author
