Binance, the world’s largest cryptocurrency exchange, confirmed Thursday that hackers made off with at least $100 million, but that the figure could have been significantly more.
The Binance blockchain, also known as BNB Chain and Binance Smart Chain, took the rare step of suspending transactions and fund transfers after discovering a vulnerability affecting the BSC Token Hub cross-chain bridge. These bridges are designed to facilitate the transfer of assets from one independent blockchain to another.
The vulnerability in the BSC Token Hub bridge allowed the attacker to forge messages, enabling them to mint new BNB tokens. Since the stolen tokens were not pre-existing tokens taken from wallets, no user funds were impacted.
In a blog post on Friday, the BNB Chain team said that a total of 2 million BNB — worth approximately $568 million — were initially withdrawn by the hacker. But blockchain security company SlowMist says the attacker only managed to take about $110 million because...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...