Locked liquidity did not stop this $14 million crypto pool drain
Photo: CryptoSlate
The PancakeSwap pool for 79AU, 79thVault’s token, lost $14.35 million in USDT on Oct. 7 through two selling wallets, according to a Bitquery investigation published Oct. 8. Bitquery found that 79% of the pool’s liquidity-provider receipts had been burned. But a permission inside 79AU let tokens leave the pool without payment. Those tokens were then sold back for USDT, bypassing the need to redeem a liquidity receipt. PancakeSwap’s V2 documentation describes LP tokens as receipts representing a provider’s share of a pool. They are separate from the two assets traders exchange inside it.
Source: CryptoSlate
