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class="sc-11f26778-0 fIrcU news_content"><div class="heading"><a href="/news/dailyanalysis"><svg width="17" height="16" viewBox="0 0 17 16" fill="none" xmlns="http://www.w3.org/2000/svg"><path fill-rule="evenodd" clip-rule="evenodd" d="M6.65685 15.0709L0.292892 8.70692C-0.0976315 8.31639 -0.0976315 7.68323 0.292892 7.2927L6.65685 0.928741C7.04738 0.538216 7.68054 0.538216 8.07107 0.928741C8.46159 1.31926 8.46159 1.95243 8.07107 2.34295L3.41421 6.99981L16 6.99981C16.5523 6.99981 17 7.44752 17 7.99981C17 8.55209 16.5523 8.99981 16 8.99981L3.41421 8.99981L8.07107 13.6567C8.46159 14.0472 8.46159 14.6804 8.07107 15.0709C7.68054 15.4614 7.04738 15.4614 6.65685 15.0709Z"></path></svg>Back</a><div class="sc-4fdbe080-0 hanuse title "><h1>Crypto Daily: Binance Smart Chain was exploited by hackers</h1></div></div><div class="time_date_block"><ul class="time_date"><li>Oct 07, 2022</li><li>09:10</li><li>2 min reading</li></ul><div class="author_block"><div class="author_image"><span style="box-sizing:border-box;display:inline-block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:relative;max-width:100%"><span style="box-sizing:border-box;display:block;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;max-width:100%"><img style="display:block;max-width:100%;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0" alt="" aria-hidden="true" src="data:image/svg+xml,%3csvg%20xmlns=%27http://www.w3.org/2000/svg%27%20version=%271.1%27%20width=%2720%27%20height=%2720%27/%3e"/></span><img alt="Choise.com team" srcSet="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=32&q=75 1x, /_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75 2x" src="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75" decoding="async" data-nimg="intrinsic" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div><div class="author_name"><span class="dynamic_author"></span>Choise.com team</div></div></div><div class="content"><div class="main_image"><img title="Crypto Daily: Binance Smart Chain was exploited by hackers" alt="Crypto Daily: Binance Smart Chain was exploited by hackers" width="742" height="0" decoding="async" data-nimg="1" class="directus_image " style="color:transparent" srcSet="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F10%2Fcrypto_daily_analysis_fri.png&w=750&q=75 1x, /_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F10%2Fcrypto_daily_analysis_fri.png&w=1920&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwp.prod.testessential.net%2Fwp-content%2Fuploads%2F2022%2F10%2Fcrypto_daily_analysis_fri.png&w=1920&q=75"/></div><div class="content_block"><p class="">The crypto market has just witnessed another hack. This time, the BNB Chain was exploited by hackers. As <a href="https://twitter.com/cz_binance/status/1578171072067031042?s=46&t=UJZ9bgB9kiPBLDwTZ7jwVw" target="_blank" rel="nofollow noopener noreferrer">revealed</a>on Twitter by the CEO of Binance Changpeng Zhao (CZ), a cross-chain bridge and the BSC Token Hub were exploited.</p><p class="">The BSC Token Hub is used to facilitate cross-chain transactions between BNB Beacon Chain and Binance Smart Chain. As such, the exploit resulted in the loss of extra Binance Coins (BNB). However, all validators on the network have been asked to suspend the Binance smart chain.</p><p class="">Although users remain worried about their funds, CZ maintained that all funds were safe and that the public will be updated with more details going forward. He<a href="https://twitter.com/cz_binance/status/1578171072067031042" target="_blank" rel="nofollow noopener noreferrer">wrote</a>: “An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.”</p><p class="">Additionally, Binance confirmed on Reddit that around $100 million to $110 million worth of funds had initially been moved from the BNB Chain. However, after alarming feedback from security officials and community members, Binance confirmed that funds worth $7 million have been frozen.</p><p class="">Cross-chain bridges have been the common point of attack for hackers. These are basically platforms that allow transferring tokens across blockchains. Interestingly, the Binance chief has said that they would be compensating for all the funds lost. “In all likelihood, Binance will cover any fund that the hackers get away with,” he added.</p><p>The case of Binance Chain is the latest among several bridge-exploits taking place this year.</p><p class="">Following the news of the exploit, the price of BNB Coin came under immediate selling pressure. As a result, the BNB Coin has lost almost all of its last week’s gains. The data from blockchain security and analytics firm PeckShield <a href="https://twitter.com/PeckShieldAlert/status/1578183265315622912" target="_blank" rel="nofollow noopener noreferrer">shows</a>: BNBchain exploiter has bridged ~$89.5M to other Chains (non-BSC chains), ~58% out to Ethereum and ~33% out to Fantom, ~4.5% out to Arbitrum.</p><p> </p><p>More real time crypto information — in our<b>Telegram Channel</b><a href="https://t.me/Choise_com_Chat">https://t.me/Choise_com_Chat</a></p><div class="jeg_ad jeg_ad_article jnews_content_inline_3_ads "><div class="ads-wrapper align-center "><div class="ads_shortcode"><div class="jeg_ad jeg_ad_article"><div class="ads-wrapper align-center"><div class="ads_code"><div id="placement_533110_0" class="plc533110"></div></div></div></div></div></div></div></div></div><ul class="sc-a1a626b4-0 heFhTL"><li><a href="/news">News</a></li><li><a href="/news/dailyanalysis">Daily Analysis</a></li><li><span>Crypto Daily: Binance Smart Chain was exploited by hackers</span></li></ul><div class="sc-ebb48054-0 ccQeMU"><button aria-label="twitter" class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/twitter.svg" alt="Crypto Daily: Binance Smart Chain was exploited by hackers"/></button><button aria-label="telegram" class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/telegram.svg" alt="Crypto Daily: Binance Smart Chain was exploited by hackers - Telegram"/></button><button aria-label="facebook" class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/facebook.svg" alt="Crypto Daily: Binance Smart Chain was exploited by hackers - Facebook"/></button></div></section></div></section></main><footer id="footer" class="sc-965f7af3-0 dtuqwR"><div class="sc-e7592e74-0 fQCMoz center_block " width="1200px"><div class="top_block"><div class="content"><p class="description">The Choise website and Choise mobile apps are owned by the company incorporated in the Republic of Seychelles with company number IBC No. 233581, registered office at 102, Aarti Chambers, Mont Fleuri, Victoria, Mahe, Seychelles which is regulated by the laws of that country. 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type="application/json">{"props":{"pageProps":{"data":{"id":14619,"status":"published","sort":null,"user_created":"ca36dd59-e84f-4468-80da-d7762c746176","date_created":"2022-10-07T06:57:05.000Z","user_updated":null,"date_updated":null,"title":"Crypto Daily: Binance Smart Chain was exploited by hackers","slug":"bsc-exploited-by-hackers","content":"\u003cp class=\"\"\u003eThe crypto market has just witnessed another hack. This time, the BNB Chain was exploited by hackers. As \u003ca href=\"https://twitter.com/cz_binance/status/1578171072067031042?s=46\u0026amp;t=UJZ9bgB9kiPBLDwTZ7jwVw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"\u003erevealed\u003c/a\u003eon Twitter by the CEO of Binance Changpeng Zhao (CZ), a cross-chain bridge and the BSC Token Hub were exploited.\u003c/p\u003e\u003cp class=\"\"\u003eThe BSC Token Hub is used to facilitate cross-chain transactions between BNB Beacon Chain and Binance Smart Chain. As such, the exploit resulted in the loss of extra Binance Coins (BNB). However, all validators on the network have been asked to suspend the Binance smart chain.\u003c/p\u003e\u003cp class=\"\"\u003eAlthough users remain worried about their funds, CZ maintained that all funds were safe and that the public will be updated with more details going forward. He\u003ca href=\"https://twitter.com/cz_binance/status/1578171072067031042\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"\u003ewrote\u003c/a\u003e: \u0026#8220;An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.\u0026#8221;\u003c/p\u003e\u003cp class=\"\"\u003eAdditionally, Binance confirmed on Reddit that around $100 million to $110 million worth of funds had initially been moved from the BNB Chain. However, after alarming feedback from security officials and community members, Binance confirmed that funds worth $7 million have been frozen.\u003c/p\u003e\u003cp class=\"\"\u003eCross-chain bridges have been the common point of attack for hackers. These are basically platforms that allow transferring tokens across blockchains. Interestingly, the Binance chief has said that they would be compensating for all the funds lost. “In all likelihood, Binance will cover any fund that the hackers get away with,” he added.\u003c/p\u003e\u003cp\u003eThe case of Binance Chain is the latest among several bridge-exploits taking place this year.\u003c/p\u003e\u003cp class=\"\"\u003eFollowing the news of the exploit, the price of BNB Coin came under immediate selling pressure. As a result, the BNB Coin has lost almost all of its last week\u0026#8217;s gains. The data from blockchain security and analytics firm PeckShield \u003ca href=\"https://twitter.com/PeckShieldAlert/status/1578183265315622912\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"\u003eshows\u003c/a\u003e: BNBchain exploiter has bridged ~$89.5M to other Chains (non-BSC chains), ~58% out to Ethereum and ~33% out to Fantom, ~4.5% out to Arbitrum.\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eMore real time crypto information — in our\u003cb\u003eTelegram Channel\u003c/b\u003e\u003ca href=\"https://t.me/Choise_com_Chat\"\u003ehttps://t.me/Choise_com_Chat\u003c/a\u003e\u003c/p\u003e\u003cdiv class=\"jeg_ad jeg_ad_article jnews_content_inline_3_ads \"\u003e\u003cdiv class=\"ads-wrapper align-center \"\u003e\u003cdiv class=\"ads_shortcode\"\u003e\u003cdiv class=\"jeg_ad jeg_ad_article\"\u003e\u003cdiv class=\"ads-wrapper align-center\"\u003e\u003cdiv class=\"ads_code\"\u003e\u003cdiv id=\"placement_533110_0\" class=\"plc533110\"\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e","seo_title":null,"seo_description":null,"seo_image":null,"old_image":"https://wp.prod.testessential.net/wp-content/uploads/2022/10/crypto_daily_analysis_fri.png","seo_keywords":null,"short_content":"Binance confirmed on Reddit that around $100 million to $110 million worth of funds had initially been moved from the BNB Chain.","image":null,"category":{"title":"Daily Analysis","slug":"dailyanalysis","id":82}}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"bsc-exploited-by-hackers"},"buildId":"_LTTyEWiIIIqjW5WHNdJN","isFallback":false,"gssp":true,"locale":"en","locales":["en","es"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>