According to The Block, the BNB Chain-based DeFi protocol SafeMoon was hacked, resulting in a loss of about $8.9 million in its liquidity pool. The SafeMoon team has confirmed the security incident and said it will do its best to recover the damage. According to Peckshield, SafeMoon’s recent update introduced a “public burn bug,” where hackers were able to use code to artificially inflate the price of SFM tokens and then sell enough tokens back to the liquidity pool in the same transaction to effectively Withdraw WBNB from the contract.