LONDON – A blockchain linked to Binance, the world's largest crypto exchange, has been hit by a $570 million (S$817 million) hack, a Binance spokesperson said on Friday (Oct 7), the latest in a series of hacks to hit the crypto sector this year.
Binance CEO Changpeng Zhao said in a tweet that tokens were stolen from a blockchain "bridge" used in the BNB Chain, known until February as Binance Smart Chain.
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Blockchain bridges are tools used to transfer cryptocurrencies between different applications. Criminals have increasingly targeted them, with some $2 billion stolen in 13 different hacks, mostly this year, researcher Chainalysis said in August.
The hackers stole around $100 million worth of crypto, Zhao said in his tweet. BNB Chain later said in a blog post that a total of two million of the BNB cryptocurrency – worth around $570 million – was withdrawn by the hacker.
The majority of the BNB remained in...
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