![]() Zhao said on Twitter that “in all likelihood, Binance will cover any fund that the hackers get away with. The Binance ecosystem is among the highest profile to be buffeted. Just when things were starting to look up for the crypto industry comes news that Binance, the world’s biggest exchange, suffered a major hack on Thursday night. Cross-chain bridges used to transfer tokens across blockchains are a popular target, turning them into a major vulnerability. At least $7 million of stolen funds has already been frozen, a spokesperson for the Binance-backed BNB Chain said.Ībout $2 billion has been lost in crypto hacks this year, many perpetrated by North Korea-linked groups. The remaining tokens are on the wallet the hacker used, but have been frozen on the Binance network, Zhou said.īinance’s Zhao in an earlier post on Twitter said the “impact estimate” of the incident was around $100 million. ![]() That’s equivalent to about $568 million at current prices for the virtual currency.Ībout $87 million was moved out of the Binance ecosystem but the hacker was unable to spirit away the rest of the funds because the Binance Smart Chain was suspended, according to BlockSec Chief Executive Officer Yajin Zhou. LONDON, Oct 7 (Reuters) - A blockchain linked to Binance, the world's largest crypto exchange, has been hit by a 570 million hack, a Binance spokesperson said on Friday, the latest in a. Security specialists at crypto firms BlockSec and Paradigm said blockchain data indicated somebody had hacked two million tokens of Binance Coin - also known as BNB - in two transactions. US Core Inflation Seen Returning to 40-Year High as Rents RiseĪ First Look at the Ritz-Carlton Superyacht: PhotosĪn exploit occurred on a bridge between blockchains and the issue is “contained now,” Changpeng “CZ” Zhao, the billionaire co-founder of Binance, the world’s biggest crypto exchange, said on Twitter on Friday. Putin Says All Infrastructure at Risk After Nord Stream Hit Hackers emptied the companys Ronin Network. ![]() Intel Is Planning Thousands of Job Cuts in Face of PC Slump A cryptocurrency and NFT games company which was hacked for 540m (£412m) last month says its customers will now be reimbursed after a cash injection. Here’s How Weird Things Are Getting in the Housing Market (Bloomberg) - An already bad year for cryptocurrencies took another turn for the worse after a $568 million hack affecting Binance Coin became the latest in a string of security incidents to buffet digital assets.
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