The recent exploit affected the YIEDL’s Y-BULL vault contract on the BNB Smart Chain. Cyvers’ security analysts confirmed that the perpetrators deployed a malicious contract targeting the Y-BULL smart contract and withdrew multiple assets. The loot was then liquidated for BNB using PancakeSwap, as per on-chain data.
In a disclosure, it was advised that the Y-UP on the OP and Synthetix protocol will remain operational until further restructuring, and users could transfer their holdings to the new Y-BULL on BSC to save fees. The protocol team confirmed the hack and stated that they are investigating the cause of the incident. Network participants were cautioned against interacting with the recently released BSC Y-BULL smart contract.
This exploit has occurred during a period of increased crypto-related hacks.
