Crypto exchange Binance said late Thursday that $100 million was likely stolen as a result of a hack on its Binance Smart Chain blockchain network.
Binance Smart Chain has temporarily suspended transactions and fund transfers, after detecting what it said was an exploit on a bridge between two blockchains.Binance Smart Chain has temporarily suspended transactions and fund transfers, after detecting what it said was an exploit on a bridge between two blockchains.
Changpeng Zhao, Binance’s chief executive, said on Twitter that the issue involved BSC Token Hub, a so-called cross-chain bridge. These enable the transfer of digital assets and information from one independent blockchain to another.A spokesman for Binance said initial estimates for funds taken off the Binance Smart Chain are between $100 million and $110 million.Fed’s rate increases defy all the rules.
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