Ranking Protocol Became BSC’s Latest Defi Victim in $ 130 Million Loss
Another recently announced hack comes from Binance Smart. Accordingly, the chart protocol became the youngest victim with damage of 130 million US dollars.
Ranking Protocol became BSC’s newest Defi casualty with a loss of $ 130 million
The list of defi logs hacked continues to grow, especially on Binance Smart Chain (BSC), as another decentralized exchange log table was announced about the hack today. The protocol’s official Twitter hashes show that the attack is restricted to BSC and that assets on Ethereum, OEC and HECO are safe.
Slowmist later revealed that attackers had stolen $ 130 million worth of assets from the log. The chart also published the addresses used by hackers to steal funds and asked all centralized exchanges and DEX platforms to freeze the accounts in question. They also ask the hacker to return the money and offer a bounty.
The number of cryptocurrencies pulled from the chart is the second largest after Poly Network, which fell victim to the biggest defi hack that resulted in the loss of more than $ 600 million worth of assets. Although Poly Network was lucky, they contacted the hacker shortly after he decided to stealthily return the money, but not before he tried to launder the money through various DEX platforms.
The Chart Protocol is just one of several defibrillating attacks that continue to grow against the crypto ecosystem
Defi has become one of the biggest success stories in the crypto world in recent years, growing into a multi-billion dollar industry within a year. However, despite its prevalence, vulnerabilities in several protocols have reduced public confidence in the Defi ecosystem, particularly the Binance Smart Chain.
Binance’s local chain became very popular during the peak of the bull run in March this year due to the high network congestion on Ethereum. Security is a big deal for the platform, however, as it has been part of some of the biggest Defi hacks in recent history.
The graphic doesn’t reveal the exact details of the hack, but quick credit attacks are common at BSC and many trust charts have fallen victim to a similar attack. As of now, there has been no new announcement as to whether the charts are as lucky as Poly Network and getting their capital back.
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