Incident All ledgers
BearnFi: $18.0m
BearnFi lost $18.0m on 17 May 2021. Ranked 145th of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 17 May 2021
- Lost
- $18.0m
- Returned or repaid
- None recorded
- Target
- DeFi Protocol
- Category
- Protocol Logic
- Method
- Withdrawal Logic Flaw
- Chains
- BSC
BearnFi lost about $18 million after attackers used repeated flashloan cycles to exploit its BvaultsBank contract, which handled deposit amounts inconsistently between BUSD and ibBUSD, letting them inflate withdrawals.
Against the ledger
- It ranks 145th of the 1,272 incidents with a known loss, and 31st in 2021.
- It accounts for 6.3% of the $287.1m in known losses in May 2021.
- 164 incidents in the ledger are classified as Protocol Logic, for $293.4m in total. This one is 6.1% of that.
- The ledger records no returned funds.
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 13 Feb 2021 | Alpha Finance | $37.5m | DeFi Protocol | Borrow Logic Flaw | — |
| 30 Nov 2021 | MonoX | $31.4m | DeFi Protocol | Swap Logic Flaw | — |
| 03 Aug 2021 | Popsicle Finance | $20.7m | DeFi Protocol | Reward Logic Flaw | — |
| 25 Mar 2025 | Abracadabra Spell | $13.0m | DeFi Protocol | Liquidation Logic Flaw | — |
| 30 Apr 2022 | Saddle Finance | $11.0m | DeFi Protocol | Swap Logic Flaw | — |
All failures in 2021 · The failures ledger
Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.
Cite this Bitminer.io, “BearnFi, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/bearnfi-2021-05-17/. How this is built