{"id":14290,"date":"2026-10-09T15:13:50","date_gmt":"2026-10-09T15:13:50","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14290"},"modified":"2026-10-09T15:13:50","modified_gmt":"2026-10-09T15:13:50","slug":"pancakeswap-pool-drain-bypassed-burned-lp-receipts","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14290","title":{"rendered":"PancakeSwap pool drain bypassed burned LP receipts"},"content":{"rendered":"<p><\/p>\n<div data-cs-editorial-figure-scope=\"\" data-cs-editorial-quote-scope=\"\" data-cs-image-viewer-scope=\"\" data-single-article-content=\"\">\n<p>The PancakeSwap pool for 79AU, 79thVault\u2019s token, lost $14.35 million in USDT on Oct. 7 through two selling wallets, according to a Bitquery investigation published Oct. 8.<\/p>\n<p>Bitquery found that 79% of the pool\u2019s 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.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Crypto hackers exploit third-party Aave tool to steal 114 ETH<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>PancakeSwap\u2019s V2 documentation describes LP tokens as receipts representing a provider\u2019s share of a pool. They are separate from the two assets traders exchange inside it.<\/p>\n<p>The exchange\u2019s liquidity guide describes ordinary redemption: a provider selects a share to remove and receives both paired tokens. Sending receipts to an inaccessible address prevents their redemption. It does not disable swaps, since trading exchanges the underlying assets without cashing in a liquidity position.<\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter cs-newsletter-brand\" data-newsletter-edition=\"catalyst\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\">\n<div class=\"cs-inline-newsletter__editorial\">\n<p class=\"cs-inline-newsletter__eyebrow\">The Catalyst<\/p>\n<p class=\"cs-newsletter-frequency\">Daily Newsletter<\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">Know what\u2019s moving crypto.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Start with the stories that matter. Get the context behind the headlines and a clear view of what to watch next.<\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__art\" aria-hidden=\"true\"> <img loading=\"lazy\" src=\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/images\/catalyst-newsletter-scrapbook-v3.webp\" alt=\"\" width=\"640\" height=\"640\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" src=\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/images\/catalyst-newsletter-scrapbook-v3.webp\" alt=\"\" width=\"640\" height=\"640\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p>In PancakeSwap\u2019s archived pair contract, separate operations handle LP redemption, swaps and updating recorded reserves to match token balances. The swap operation checks token input without consuming LP receipts. The reserve-update operation reads balances from the underlying token contracts. Burning LP receipts does not rewrite those contracts\u2019 balance rules or revoke a privileged address\u2019s token permissions.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Base\u2019s Cobalt upgrade adds another rule to affect token balances<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<h2>What remained exposed<\/h2>\n<p>At 12:53 UTC on Oct. 8, Bitquery identified two pull-authorized addresses: the deployer and a newly authorized wallet. Read-only simulations from either allowed removal of about 95% of the pool\u2019s remaining 79AU. The read-only tests moved no funds.<\/p>\n<p>The same snapshot showed one wallet holding the unburned 21% of LP receipts, with ordinary redemption rights over that share.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Cardano\u2019s Splash fix patches the exploit, but leaves 2.4M ADA missing and holders trapped<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>Establishing whether 79AU\u2019s reported exposure has ended requires a fresh check of that transfer permission.<\/p>\n<\/div>\n<p>DeFi,Featured,Hacks,PancakeSwap,payments,stablecoins,Tether,USDTPancakeSwap,payments,stablecoins,Tether,USDT#PancakeSwap #pool #drain #bypassed #burned #receipts1791558830<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The PancakeSwap pool for 79AU, 79thVault\u2019s 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\u2019s liquidity-provider receipts had been burned. But a permission inside 79AU let tokens leave the pool without payment. Those tokens were then<\/p>\n","protected":false},"author":1,"featured_media":14291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[5558,7333,839,7332,167,1809,6785,282,218,2130],"class_list":["post-14290","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-burned","tag-bypassed","tag-drain","tag-pancakeswap","tag-payments","tag-pool","tag-receipts","tag-stablecoins","tag-tether","tag-usdt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PancakeSwap pool drain bypassed burned LP receipts - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"79AU\u2019s PancakeSwap pool lost $14.35 million despite burned LP receipts. 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