Threat Management

Binance Bridge hit with $566M hack

BleepingComputer reports that Binance Bridge has been impacted by a cyberattack that has resulted in the theft of 2 million Binance Coins worth $566 million. Binance has been infiltrated by unnamed threat actors through an exploit in the BNB Smart Chain Token Hub, prompting Binance to temporarily suspend the Binance Smart Chain. "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," said Binance CEO Changpeng Zhao in a tweet. Most of the stolen funds have not left the BNB Smart Chain but an estimated $70M to $80M worth of Binance Coins have been taken off-chain. However, Binance said that it has already frozen $7 million of off-chain assets.

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