Hackers have reportedly stolen 2 million Binance Coins (BNB) worth $566 million from the Binance Bridge. As soon as Binance acknowledged the security incident, it paused the BNB Smart Chain and started investigating the incident.
The CEO of Binance tweeted that an exploit was used in the BSC Token Hub to transfer the BNB to the attacker. The attacker’s wallet received two transactions, each consisting of 1,000,000 BNB. Soon after the hacker began spreading some of the funds across a variety of liquidity pools, attempting to transfer the BNB into other assets.
Binance CEO Changpeng Zhao tweeted: “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.”
While the majority of the stolen funds remain on the BNB Smart Chain and are now inaccessible to the hacker, Binance estimates that between $70 million - $80 million were taken off-chain. Working with partners in the cryptocurrency community, $7 million of those off-chain assets have already been frozen.
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