A 'Potential Exploit' Halts BNB Chain

A 'Potential Exploit' Halts BNB Chain

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Mike
Mike

An editor at Coincrop


07 Oct 2022 | 2 min read
11,609 views

A

hacker attempted to steal up to $110 million in cryptocurrency from the Binance blockchain.

The Binance Chain network suspended operations on Thursday after evidence suggested that a “potential exploit” could have allowed the thief to access hundreds of millions of dollars worth of digital assets.

Binance Chain is made up of two components: Binance Beacon Chain and Binance Smart Chain (BSC). We've temporarily halted the BSC operation because of abnormal activity. Later on, they confirmed that the activity was a "potential exploit," which they termed as contained.

Up to two million BSC tokens were targeted by an attacker late Thursday, according to token movements, but the actual losses may be far lower. According to a tweet from Binance Chain, $100 to $110 million in assets were moved off chain.


Mike

Mike

An editor at Coincrop
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Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.


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