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Binance blockchain suffers $570 million hack

Posted on October 7, 2022 by Xordac Prime
CHINA - 2022/07/25: In this photo illustration, the cryptocurrency exchange trading platform Binance logo is displayed on a smartphone screen. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)

Enlarge / CHINA – 2022/07/25: In this photo illustration, the cryptocurrency exchange trading platform Binance logo is displayed on a smartphone screen. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) (credit: SOPA Images)

Hackers have stolen around $570 million in tokens from Binance, in a rare blow to the world’s biggest crypto exchange and another dent to the troubled digital assets industry struggling to regain trust after a collapse in prices.

Binance initially estimated on Friday that tokens worth about $100 million to $110 million had been taken, pausing the operation of the affected blockchain for approximately eight hours.

However, the exchange later disclosed that the hacker had taken around two million of the cryptocurrency BNB, Binance’s own digital token, with a value of around $284 each. The hack targeted BSC Token Hub, a bridge between two Binance systems.

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Source: Ars Technica – Binance blockchain suffers 0 million hack

This entry was posted in Ars Technica, Unfiltered RSS and tagged Ars Technica by Xordac Prime. Bookmark the permalink.
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