A new exploit targeting the Mobius token smart contracts, has resulted in a $2.15 million loss. As reported by Cyvers Alert, a web3 security firm, the attack unfolded on May 11 with an exploit of the Mobius token minting mechanism. Mobius Token, a lesser-known token on the BNB Smart Chain, has now become the latest victim of a wider trend of security incidents affecting decentralized projects in 2025. 

The hack has since reignited concerns about decentralized finance (DeFi) security on the BNB Chain. In the midst of the constant pressure for smart contract security, this incident is a clear reminder that without proper monitoring, attackers can take advantage of vulnerabilities with ease. 

How Did The Mobius Token Smart Contract Exploit Happen?

Through a post on X, Cyvers Alerts pointed out that the Mobius token smart contract breach was triggered by a suspicious smart contract.  At 07:31 UTC, the attacker with wallet 0xB32A5 deployed the malicious contract.

🚨ALERT🚨
Our system has detected an exploit on Mobius Token smart contracts, draining over $2.15M in Mobius Token ($MBU) on BNB Chain.

Two minutes prior to the exploit, our system identified a deployment of a malicious smart contract, that eventually targeted the Mobius Token… pic.twitter.com/NEG5AXdfoc

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) May 11, 2025

Just two minutes after the deployment, the attacker proceeded to drain the MBU tokens with repeated transactions using wallet address 0x631adf. By controlling the minting logic, the attacker was able to mint a massive 9.73 quadrillion MBU tokens with a small initial investment of 0.001 BNB.

The attacker immediately converted the MBU tokens into stablecoins. Using the quick transfers, the attacker accumulated a total of $2.15 million. In the same manner, the attacker also managed to steal an additional 28.5 million MBU tokens, which greatly increased the size of the breach.

Hacker Used Tornado Cash to Obscure the Stolen Funds

After the successful exploit, the attacker made quick moves to conceal the stolen funds. For this operation, the hacker laundered the stolen funds through Tornado Cash, a well-known crypto mixer that is used to hide transaction patterns. This makes the recovery of the funds very difficult.

This method of obscuring funds has become quite common among blockchain exploiters. The method is preferred by these malicious actors as it slows down or even stops investigators from uncovering the theft. This raises several concerns about Tornado Cash. The platform is already facing scrutiny as its decentralized nature and its proven record of obscuring transaction traces continue to attract hackers and exploiters.

Following the Mobius token smart contract exploit, Cyvers has pointed out that the incident underscores the need for the deployment of live smart contract surveillance and automated security alerts. “Stay Safe: Proactively monitor deployed contracts and transactions to stop attacks before they spread,” Cyvers Alerts wrote. 

BNB Chain Faces Security Challenges Amid Growth

The MBU smart contract attack is the latest of a long line of major security breaches on the BNB Chain. This chain continues to be one of the most dynamic and prominent blockchain platforms. However, despite such incidents, the BNB Chain continues to attract developers and investors. 

But security remains a persistent issue for the BNB smart chain. It seems that increased developer activity on chain is occurring along with increased security incidents. This is primarily because of the proliferation of substandard projects. With inadequate code reviews, many projects on the network leave themselves open to a variety of known vulnerabilities.

Binance, the firm behind BNB chain, has not yet issued an official comment on the Mobius incident. However, such events have increased the demand for tougher standards for smart contract deployment and enhanced security measures.