PancakeBunny
Summary
PancakeBunny was a Binance Smart Chain yield aggregator and optimizer built by a team known as Mound, launched in December 2020. The protocol suffered two major flash loan exploits in 2021: a May 20, 2021 attack that caused the BUNNY token to crash over 95% and wiped out approximately $200 million in market capitalization, and a July 16, 2021 attack on its Polygon fork PolyBunny that resulted in $2.4 million in losses. Both exploits stemmed from oracle price manipulation vulnerabilities in the minting reward logic, and the protocol has never recovered to its pre-exploit state.
Connected Entities
1 entities- + 1 more
Timeline(11 events)
2020-12-01
PancakeBunny launches on Binance Smart Chain, developed by Team Mound.
2021-04-27
BUNNY token reaches all-time high of approximately $553.
2021-05-20
Flash loan attack on BSC: attacker mints ~6.9M BUNNY tokens via oracle manipulation, netting ~$45M. BUNNY price crashes over 95% from ~$146 to ~$6. Market cap loss estimated at $200M.
2021-05-25
AutoShark, a PancakeBunny fork, is exploited using the same attack vector.
2021-05-26
Merlin Labs and PancakeHunny, additional PancakeBunny forks, are exploited using similar techniques.
2021-05-27
PancakeBunny publishes Go Forward Plan, announces pBUNNY compensation token and Compensation Pool.
2021-07-14
ApeRocketFi, another PancakeBunny fork on Polygon, is exploited using the same mint-manipulation vulnerability that would be used against PolyBunny two days later.
2021-07-16
PolyBunny (PancakeBunny's Polygon fork) is hit by a second flash loan attack. Attacker mints 2.1M polyBUNNY tokens via SushiSwap vault miscalculation, nets $2.4M (1,281.7 ETH). polyBUNNY price falls 82%.
2021-07-21
Team Bunny announces slowdown of new product releases to prioritize security; distributes MND tokens as compensation to PolyBunny holders.
2022-01-01
BUNNY token price at approximately $1.16, down 99.8% from April 2021 all-time high.
2023-01-01
BUNNY token price at approximately $0.30, protocol continues with minimal TVL and activity.
Decision Log
- hash: 12Jrffh4qD8jA9KKzSmEN9GMSChfFoacLFAxo1CbQFAL
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/30/2026, 6:25:37 PM
last updated: 5/30/2026, 6:25:40 PM
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