Bondly Finance Reports Alleged Exploit

Another day, another DeFi hack! This time the decentralized e-commerce platform Bondly Finance advised its users to stop trading Bondly, the blockchain native token, after reports of an alleged exploit came up earlier today.

Bondly Finance has not published any further news or information so far. Still, the market reacted heavily, dumping the tokens price by 60% in just 3 hours after the first rumors emerged.

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On the other hand, PeckShield, a blockchain security and data analytics company, explained the price drop with a 373 million token mint on the Ethereum blockchain. Further, the security firm claimed that the mint was executed by the owner’s address, essentially accusing Bondly Finance of performing a planned rug pull.

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Flash loan attacks, rug pulls, or exploits, in general, are not uncommon in the fast-growing DeFi ecosystem. For example, there have been several attacks in the past, like on PancakeBunny or BurgerSwap (both built on Binance Smart Chain).

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