New York CNN Business —
Binance, which describes itself as the largest crypto exchange by trading volume, is the latest company to be impacted by a major theft this year.
A Binance-linked blockchain was involved in a $570 million hack late Thursday, a company spokesperson confirmed to CNN Business on Friday.
Binance temporarily suspended its blockchain network, BNB Smart Chain, “due to irregular activity,” the company tweeted Thursday. The company said Friday that hackers had stolen two million BNB cryptocurrency tokens – which are issued by Binance – worth about $570 million at the time.
Binance CEO Changpeng Zhao initially tweeted that an estimated $100 million worth of crypto had been stolen.
“Your funds are safe,” Zhao tweeted on Thursday night. “We apologize for the inconvenience.”
The company said $100 million worth of tokens remain “unrecovered” and moved off chain by the hacker. The remaining funds have been frozen on the BNB Chain.
In order to carry out the theft, the...
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