Latest Update: BSC Pause Due To “Potential Exploitation”, Over $100M Has Been Hacked

The BNB chain team confirmed the news of an on-chain hack, with all deposits and withdrawals suspended on the BSC. According to rhyming information being updated, more than $100 million was stolen, $7 million of which has been frozen.

BNB Chain the blockchain of cryptocurrency exchange Binance, was paused on October 6 due to what it states is “irregular activity” on the network with the team having determined a potential exploit.

BSC has become a target for attackers, with initial records estimating over $100 million in assets being moved off-chain but the BNB team says $7 million has been frozen. Damage numbers are still being updated.

With on-chain analytics showing meaningful attackers exploiting roughly 2 million BNB, the chains native coin, a value of nearly $600 million. Regardless, BNB’s Twitter promised “all funds are safe” and said it will “help freeze any transfers“.

Immediately after the news of the hack, BNB dropped 3.44% causing its price to drop to $286.1.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

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Foxy

CoinCu News

Latest Update: BSC Pause Due To “Potential Exploitation”, Over $100M Has Been Hacked

The BNB chain team confirmed the news of an on-chain hack, with all deposits and withdrawals suspended on the BSC. According to rhyming information being updated, more than $100 million was stolen, $7 million of which has been frozen.

BNB Chain the blockchain of cryptocurrency exchange Binance, was paused on October 6 due to what it states is “irregular activity” on the network with the team having determined a potential exploit.

BSC has become a target for attackers, with initial records estimating over $100 million in assets being moved off-chain but the BNB team says $7 million has been frozen. Damage numbers are still being updated.

With on-chain analytics showing meaningful attackers exploiting roughly 2 million BNB, the chains native coin, a value of nearly $600 million. Regardless, BNB’s Twitter promised “all funds are safe” and said it will “help freeze any transfers“.

Immediately after the news of the hack, BNB dropped 3.44% causing its price to drop to $286.1.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

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