Binance Is Narrowing Down The Identity Of BSC Token Hub Hacker
Binance CEO Changpeng Zhao told CNBC that the crypto exchange is narrowing down the individual or group responsible for the BSC Token Hub cross-chain bridge attack, which resulted in a $570 million loss earlier this month.
Law enforcement is assisting Binance’s search, Zhao told the business news channel:
“We’re still actually chasing … helping to chase the bad players, working with law enforcement around the globe. Working with law enforcement is one of the ways that we can try to make the space safe.”
Zhao also noted that:
“In this particular instant, law enforcement gave us some tips of who they think it might be… we’re actually narrowing down.”
The vulnerability occurred on a cross-chain bridge, which allows cryptocurrency users to transfer their crypto assets across blockchains. During the incident, Zhao requested that BSC be temporarily suspended. Coordination between validators and the updating of node operators eventually resolved the problem.
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