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BNB Chain Bridge Hacker Transfers 33,772 ETH To New Address

The address involved in mining the BNB Chain bridge was recently discovered transferring $45 million worth of ETH to a new address.

The BNB Chain bridge exploit astounded the whole community since hackers intended to carry out the nefarious conduct covertly overnight.

The Binance team was able to resolve the matter quickly enough to limit the harm, while Tether attempted to ban the related address.

PeckShieldAlert tweeted:

However, hackers were still able to get away with funds in the $100 million range. Due to the quick action of the Binance team, $400 million remains on BSC. The above number does not include the amount of money the hackers sent $50 million to Fantom and $50 million to Ethereum. It looks like the funds converted to Ethereum are moving now.

CZ stated that he is confident in the community’s faith in Binance because of the team’s quick response.

Furthermore, after managing the problem, the BNB Chain team issued a statement regarding the incident on Friday. The team apologized for the exploit and provided four action measures that would be voted on for the common benefit of BNB.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.