On October 8th, IT Home reported that in the early morning of October 7th Beijing time, the smart contract platform BNBChain suffered two consecutive (2:26, 4:43) hacker attacks, washing out 2 million BNB coins in just 2 hours. This currency alone reached $566 million, and with other virtual assets, it could reach $718 million
On October 8th, IT Home reported that in the early morning of October 7th Beijing time, the smart contract platform BNBChain suffered two consecutive (2:26, 4:43) hacker attacks, washing out 2 million BNB coins in just 2 hours. This currency alone reached $566 million, and with other virtual assets, it could reach $718 million. If the subsequent impact is included, the amount involved in the case is about $850 million. Independent analysts from CIAOfficer stated that this amount is the largest on chain attack in history.
According to public information, BNBChain is incubated by the world's largest cryptocurrency exchange, Coin Security, and one of the most active public chains in the world (IT Home Science Popularization: Public chain refers to a consensus blockchain that anyone can read, send transactions, and obtain effective confirmation).
At around 6 a.m. on the same day, BNBChain officially stated that due to abnormal activities, maintenance is currently underway and all deposits and withdrawals through the BNB chain are suspended until further updates are available. Meanwhile, in another update, it was stated that approximately $70 million to $80 million of funds had been withdrawn and $7 million had been recovered (frozen).
Subsequently, Zhao Changpeng, CEO of Coin An, who was once known as the "richest man in Chinese", tweeted that the current estimated amount of damage is $100 million. He apologized to the investors for this and claimed to have recovered some of the funds. Coin An emphasized that the Coin An Exchange itself has not been attacked or suffered losses. Meanwhile, Coin On has also suspended investor recharge and withdrawal functions.
This issue is currently under control. Your funds are safe. We apologize for any inconvenience this may cause to investors and will provide further system updates in the future
Zhao Changpeng pointed out that the criminal thief used a vulnerability in the cross chain bridge "token center" BSCTokenHub to invade, and he assured the customer that this vulnerability had been fixed. In short, the cross chain bridge is a tool for investors to transfer assets from one block chain transfer to another.
It is worth mentioning that Tether, the parent company of the stable currency USDT, has blacklisted the hacker address. It is reported that the hacker address also holds ETHs worth more than $45 million.
In fact, there have been frequent incidents of hacker attacks since the beginning of this year, such as the AxieInfinity theft in March and the theft of cryptocurrency company Nomad in September, which cost nearly $200 million. Cross chain Polynetwork has also been hacked to steal over $600 million in assets due to vulnerabilities, all of which are related to cross chain vulnerabilities. Chainalysis, a crypto asset analysis company, previously pointed out that cross bridge hacking accounts for 69% of hacking attacks, and this year, cross bridge vulnerability attacks have caused approximately $2 billion in theft.
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