According to a blockchain developer, the attack may have been “either the first or second greatest hack of all time.”
Today, the Binance blockchain, also known as the BNB Chain and the Binance Smart Chain, was shut down after a rise in “irregular activity” revealed a potential network vulnerability.
At 2:19 AM Dubai time, BNB Chain tweeted the initial notification that the BSC network would be temporarily suspended.
Peckshield Inc., a blockchain security and data analytics startup, tweeted on-chain analytics that revealed the network had experienced an exploit, with thieves stealing about two million BNB, the chain’s native token, valued at $572 million.
We don’t know how extensive the intrusion was or when the network will resume regular operation. Regarding the loss mentioned by Peckshield, Binance has not made any specific comments.
The problem, which led to the creation of an extra BNB token, was with the cross-chain bridge BSC Token Hub, confirmed Binance founder and CEO Changpeng Zhao via Twitter.
In addition, a Twitter user by the pseudonym SlowMist_Team said that the hacker is now trying to spread the funds to every network to launder the funds.
For instance, CZ said that the problem has been resolved and that all crypto assets are secure.
The organization said, “All systems are now contained, and we are immediately evaluating the potential vulnerability.” “We are confident that the community will offer support and freeze.”