meerkat finance hack

About

meerkat was a yield vault project that forked yearn. finance’s code — one of many forks of ethereum-native protocols that populate bsc. the attack on meerkat initially took place on march 4, one day after meerkat's launch, resulting in a loss of 73,000 bnb and $14 million of stablecoin busd — a total of $31 million in user funds. members of the community were quick to label the exploit as a “rugpull” — a colloquial term for when an insider or a member of a development team exploits a contract using specialized permissions — given that the meerkat deployer contract was updated to allow the vaults to be drained shortly before the attack.

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