BNB: Binance Smart Chain Has Been Hacked

Binance Smart Chain

✍️ 7 October, 2022 - 5:22 👤 Editor: Jakub Motyka

Binance Smart Chain (BSC), the blockchain of the Binance exchange, has been hacked. This has been reported by the security company Peckshield Inc. in a tweet in which they revealed that hackers have managed to withdraw around 2 million BNBs (about 572 million dollars) in a hacker attack on Binance Smart Chain.

Binance has suspended the operations on the Binance Smart Chain (BSC) network, and at this time the team of developers of the exchange is is working to find the root of the hack in order to put an end to the threat as soon as possible.

Binance Hacked: The Binance Smart Chain (BSC) Blockchain Has Been Hacked

In a message posted a few hours ago, the CEO of Binance, CZ, summarized the first data of the hacker attack on Binance. CZ explained that the attack was due to an exploit in a bridge cross-chain, BSC Token Hub, and also assured that the money of your users is safe.

BSC Token Hub is the bridge between BNB Beacon Chain (BEP2) and BNB Chain (BEP20 or BSC), and CZ puts the losses after the hack at a figure close to 100 million dollars –and no more than 500 as the Peckshield Inc. team claims–, roughly a quarter of the latest BNB burn.

For now there is still no estimated date for the reactivation of Binance Smart Chain (BSC) after the hack, since at the moment the developers of Binance are working to understand the cause of the attack and apply the necessary solutions so that it does not happen again.

Price Of BNB Crypto Today Falls By 3.59% In The Last 24 Hours

The price of the BNB cryptocurrency today has been affected by the news of the hacking of Binance Smart Chain (BSC). Its value has fallen by 3.59% in the last 24 hours, registering at the time of writing this news a price of $286.03.

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Juan Pais

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