PancakeSwap Says Smart Contracts Unaffected as OLPC/LABUBU Pool Hack Causes $1.1 Million Loss

PancakeSwap said its smart contracts were not affected after a hack targeting the OLPC/LABUBU liquidity pool caused about $1.1 million in losses.

On June 20, the platform said on X that it was aware of reports tied to a specific pool. An initial investigation found no issues with PancakeSwap’s smart contracts.

PancakeSwap said it is continuing to investigate the incident and will share additional information when available. It urged users to check its official channels for updates.

Earlier, on-chain security firm PeckShield reported that PancakeSwap’s OLPC/LABUBU liquidity pool had been hacked, resulting in about $1.1 million in losses. The hacker moved the stolen funds to the Ethereum network and then deposited 633.4 Ether into the mixer Tornado Cash.