Binance Smart Chain hit the brakes Thursday after the blockchain with ties to the world's largest crypto exchange suffered what it called a "potential exploit" that on-chain evidence suggested could have targeted hundreds of millions of dollars in crypto.
"Due to irregular activity we're temporarily pausing BSC," BNB Chain tweeted from its official account, later confirming that the activity was a "potential exploit," that it characterized as contained.
Initial token movements suggested that up to two million BSC tokens were targeted by an attacker late Thursday, but the true losses may be much lower. BNB Chain estimated $100 to $110 million in assets were moved off chain but said in a tweet that $7 million was already frozen.
That such a small (comparatively speaking) sum of assets were stolen underscored the upside of BNB's gamble to halt the chain rather than risk more assets escaping. Blockchains are purportedly decentralized beasts designed to operate beyond the whim of...
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