After the Pancake Bunny hack and loss of over a billion dollars, investing into a defi saving account like Anchor seems risky. I’ve heard of Ozone but it’s not out yet. Also if there is a major hack, how can any insurance cover everyone’s losses. I’m new to this and I really want to use Anchor but just looking for an some sort of comfort before doing so. Can anyone help?
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Pancake Bunny wasn’t technically hacked. Someone exploited a weakness in the smart contract and was successfully able to mint millions of new Bunny Tokens through a flash loan.
Your concern is still valid though. Definitely will lower confidence in the DeFi space and I hope the platform is taking every precaution to eliminate potential vulnerabilities.
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