BNB Chain Gets Back to Normal After a Hack Estimated $100 M

by in Blockchain News

BNB Chain exploit

On October 7, BNB Chain announced suspending operations due to irregular activity, and a potential exploit.

Related: Ronin Blockchain Platform Was Hacked and Lost Over $600 M

Later, the team confirmed they had detected an exploit on a cross-chain bridge BSC Token Hub. As a result, extra BNB coins were created. The Binance team announced that customer funds remained safe.

According to initial estimates, hackers were able to withdraw funds worth between $100 M- $110 M. However, due to the community response, $7 M has already been frozen. The validators confirmed their status and the community infrastructure updates after the issue was contained. Currently, the BNB chain is back to normal.