Binance: more than 100 million dollars stolen from the platform

Hackers have targeted the BSC Token Hub cross-chain bridge, to mine BNB tokens, Binance’s token…

( — New hack in the world of cryptocurrencies… On the night of October 6 to 7, Binance suffered an attack by hackers, who managed to steal $100 million in assets, forcing the largest cryptocurrency exchange platform in the world in terms of volume to suspend trading for a few hours, its founder and CEO Changpeng Zhao announced.

The Binance boss explained that the hackers targeted the BSC Token Hub cross-chain bridge (or “bridge”), which is used to transfer crypto tokens between the BNB Beacon Chain and the BNB Smart Chain, in order to mine BNB tokens, Binance’s token. Following the attack, the Binance Smart Chain (BSC) blockchain, thus linked to the bridge, was suspended before being restored a few hours later.

“Due to irregular activity, we are temporarily suspending the BSC [Binance Smart Chain, ndlr]. We apologize for the inconvenience and will provide further updates here. Thank you for your patience and understanding,” tweeted the platform around midnight to alert its users.

“The problem is now under control”

With his 7 million Twitter followers, Changpeng Zhao assured that “the problem is now under control”. “Your funds are safe,” he said. In a post on the Reddit site, the platform, which has 120 million users worldwide, also clarified that approximately $7 million had already been frozen of the entire sum stolen, with the help of its security partners.

In a blog post, published after the hack, BNB Chain said that a total of 2 million of the BNB cryptocurrency, worth around $570 million, had been withdrawn by the hacker. . Part of the funds were frozen, but the hackers still managed to keep the equivalent of 100 million dollars on different blockchains.

Multiplication of attacks against cross-chain points

Cross-chain bridges have come under increasing attack in recent months. Back in March, hackers managed to steal an estimated $615 million from Ronin Bridge, which is used to transfer cryptocurrency in and out of the Axie Infinity game, making the attack one of the biggest cryptocurrency heists ever. recorded.

In August, a report by blockchain analytics firm Chainalysis estimated that around $2 billion worth of cryptocurrency had been stolen in 13 separate cross-chain bridge hacks, mostly taking place this year.

Receive our cryptocurrency alert so you don’t miss any industry news.

We want to give thanks to the author of this post for this amazing content

Binance: more than 100 million dollars stolen from the platform

Our social media profiles here as well as other related pages here