Bunny Finance
Last changed 2026-10-14 · Re-researched — Re-researched in full by the investigator agent; the text was rewritten from new research. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -9.6 |
| Problems around it, caused by others | -1.6 |
| Long-running | +4 |
| Sum | 51 |
Score: 51/100 (kept between 0 and 100)
How scoring works →Summary
PancakeBunny (also known as Bunny Finance) was a Binance Smart Chain yield aggregator developed by the anonymous team MOUND (Mound Inc.), which received a $1.6 million seed round led by Binance Labs in April 2021. The protocol suffered a roughly $45 million flash loan attack in May 2021 and a $2.4 million exploit of its Polygon fork polyBUNNY in July 2021, and the same team's Qubit Finance lost about $80 million in January 2022, for more than $127 million across three incidents. The BUNNY token has lost over 99% of its value, development has largely ceased, and no stolen funds have been publicly confirmed as recovered.
Connected Entities
9 entities · 60 linked investigations- Qubit Finance→mentioned with→PancakeBunny(70%)
- Qubit Finance→mentioned with→Ethereum(70%)
- Qubit Finance→mentioned with→Binance(80%)
- PancakeBunny→mentioned with→Polygon(80%)
- PancakeBunny→mentioned with→SushiSwap(65%)
- PancakeBunny→mentioned with→Binance(80%)
- Binance→mentioned with→Ethereum(65%)
- Bunny→mentioned with→SushiSwap(60%)
- Bunny→mentioned with→Ethereum(65%)
- Bunny→mentioned with→Polygon(80%)
- + 9 more
Timeline(10 events)
December 2020
PancakeBunny launches on Binance Smart Chain, developed by Team Mound.
April 2021
Binance Labs leads a $1.6 million seed round in Mound Inc. (April 12, 2021), with IDEO CoLab and SparkLabs also participating; the team exits stealth but remains anonymous. BUNNY reaches its all-time high of about $576.25 (April 21) or about $553 (April 27) depending on source.
May 2021
May 19-20, 2021: flash loan attack on PancakeBunny (BSC). Attacker borrows about 2.3 million BNB/WBNB via flash loans, manipulates the internal price calculation, mints BUNNY tokens and nets about $45 million. BUNNY price crashes from about $146 to about $6.
May 2021
About May 21, 2021: PancakeBunny publishes a post-mortem characterising the incident as an 'economic exploit' rather than a smart contract breach, and announces a recovery plan. About May 25-26: forks AutoShark, Merlin Labs and PancakeHunny are exploited; about May 27: PancakeBunny publishes its Go Forward Plan with the pBUNNY compensation token and Compensation Pool.
June 2021
PancakeBunny launches its formal recovery plan including the pBUNNY compensation token, a Compensation Pool funded by performance fees, and the MND token at a 1.5x BUNNY swap ratio.
July 2021
July 14, 2021: ApeRocketFi, a PancakeBunny fork, is exploited with the same mint-manipulation flaw. July 16: polyBUNNY on Polygon is hit by a near-identical flash loan attack minting about 2.1 million polyBUNNY worth about $2.4 million; the price falls from about $10 to $1.78 (82%). July 21: the team announces a slower release pace, testnet deployments, bounties and multi-layer code reviews, and a $2.4 million MND compensation plan.
January 2022
January 27, 2022: Qubit Finance (QBridge) is hacked for about $80 million via a legacy deposit function, draining 206,809 BNB; funds routed through Tornado Cash; Chainalysis assesses the attack as likely North Korea-linked. About January 31: Qubit offers escalating bounties up to $2 million; no response or fund return reported. BUNNY trades at about $1.16 in 2022, down 99.8% from its high.
February 2022
PancakeBunny transitions to a DAO structure as active development winds down and publishes a 2022 roadmap, after which development activity is minimal.
2023
BUNNY trades at about $0.30; the protocol continues with minimal TVL and activity.
2024
BUNNY trades near $0.06 with a market cap below $35,000, over 99.9% below its all-time high; protocol TVL near zero; no confirmed recovery of funds from any of the three exploits.
Decision Log
- slot 455369540 · hash 5t6BHcQWonFnFYzidJyJoqmsPkBL1kVJXhkUe1yWKFw2
- slot 421258808 · hash EGPLPKrpTXFZyEdnFCPqSVSvHw7PZD7i2tVo5f7nLP3C
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 30 of 42 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 5/4/2026, 2:54:57 AM
last updated: 10/14/2026, 12:23:24 AM
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