A major security breach has rocked the BNB Chain after an arbitrage bot known as printMoney was drained of more than $2 million. The loss has raised new concerns about the safety of on-chain trading tools and how easily they can be exploited.
According to blockchain security tracker PeckShieldAlert, the attacker systematically drained funds from the compromised wallet. The losses involved various assets, including stablecoins and wrapped tokens, making it clear that the exploit was broad and strategic.
The arbitrage bot operated by scanning price gaps across decentralized exchanges such as PancakeSwap and Venus. It then executed trades automatically using smart contract logic. While efficient, this fully on-chain approach exposed every tactic, position, and balance to public view.
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Besides being transparent, the bot reportedly held large reserves of capital needed to perform instant trades. That made it a clear target for exploitation. Once a flaw was discovered in its smart contract setup or trade execution process, attackers moved quickly.
Evidence from transaction records shows multiple trades executed at a loss, confirming unauthorized activity. The scale and coordination of the exploit suggest that the attacker may have manipulated token prices or abused poorly protected callback features.
Bot Design Flaws and Centralized Funds Deepen the Impact
One of the key issues was how the printMoney bot stored user funds. In a bid to improve efficiency, all assets were pooled into a single contract. That structure turned the bot into a high-value target and increased the damage when it was breached.
Also, the bot’s internal activities did not contain sufficient protection. Low permission settings and the lack of sufficient audits of many on-chain trading bots may continue to place the smart contract in danger. This loophole is usually exploited by attackers to establish fraudulent arbitrage or diversion of funds.
Adding to the growing total, the more than $2 million lost in this incident forms part of the $11 million flagged by PeckShieldAlert in related attacks. This causes concern that other bots might have been hit with the same tactics.
The printMoney hack highlights the extreme risks facing on-chain arbitrage systems in public networks. Without advanced security and better decentralization, these bots remain vulnerable to large-scale financial losses.
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