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.

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