Another Major Crypto Hack as $100M BNB Stolen

blockchain.news:

The crypto industry has witnessed another major hack.

Roughly $100 million of Binance Coin (BNB) was stolen after an exploit occurred on a bridge between blockchains.

The issue is «contained now,» Changpeng "CZ" Zhao, the billionaire co-founder of Binance, said on Twitter.

The world’s biggest crypto exchange, Binance-backed blockchain BNB Chain, estimated that around $100 million to $110 million of digital tokens were involved in the incident.

A post published by Binance on Twitter reads:

"@BNBchain is currently under maintenance. We will suspend all deposits and withdrawals via BNB chain temporarily until there are further updates. We apologise for the inconvenience. Thank you for your patience!"

BNB also said on Twitter that " we request BSC Validators to get in touch with us within the next few hours so that we can plan a node upgrade."

A spokesman said that at least $7 million of stolen funds has already been frozen, and the bridge, BSC Token Hub, has been suspended.

In another recent case of a major hack, multi-chain decentralized exchange (DEX) aggregator platform Transit Swap announced via Twitter that it lost $21 million after a hacker exploited an internal bug on its swap contract.

Following the incident, Transit Swap issued an apology statement to the users, saying that efforts are underway to recover the stolen funds. «After a self-review by the TransitFinance team, it was confirmed that the incident was caused by a hacker attack due to a bug in the code. We are deeply sorry,» the DeFi platform stated.

The DEX aggregator said it is working with cybersecurity specialists such as SlowMist, PeckShield, Bitrace, and TokenPocket security and technical teams to track down the hacker and recover the funds.

Transit