Two days ago, Binance, the world’s largest cryptocurrency exchange, admitted its blockchain suffered a double blow when hackers stole around $100 million worth of cryptocurrency from its blockchain bridge running on the BNB chain (earlier known as Binance Smart Chain).
A blockchain bridge is a tool utilised to transfer cryptocurrencies between different applications that run on the blockchain.
However, Binance’s misery did not end there. Later, BNB Chain said in a blog post that a total of two million tokens of their cryptocurrency BNB – worth around $570 million – were also withdrawn by the hacker.
BSC Token Hub is the bridge between BNB Beacon Chain (BEP2) and BNB Chain (BEP20 or BSC).
— CZ Binance (@cz_binance) 1665100533000
The current impact estimate is around $100m USD equvilent, about a quarter of the last BNB burn.
— CZ Binance (@cz_binance) 1665101145000
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