BNB Chain Suffers First Hack, Recovers Swiftly!
The official Reddit handle of BNB Chain approximates losses to the tune of $100-110m.
Rumors of an exploit on BNB Chain in the late hours of Thursday, October 6, have been confirmed by the team via its official Twitter handle, leading to a temporary halt of the chain for the first time.
The exploit was further expounded by Binance CEO Changpeng Zhao (CZ) to be on a cross-chain bridge, BSC Token Hub, which resulted in extra BNB. Losses were approximated to the tune of $100m, which is only about a quarter of the last BNB burn.
CZ also confirmed that funds were safe!
In case you didn’t know, BSC Token Hub is the bridge between BNB Beacon Chain (BEP2) and BNB Chain (BEP20 or BSC).
Back to Normalcy
Even at odd hours, much collaborative effort has been put into swiftly getting the chain secure and running again.
The BNB Chain team has now confirmed via Twitter that the chain is back up and running, with validators confirming their status alongside upgrading infrastructure.
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