On the 6th of October afternoon, suspicious activity was detected on the Binance Smart Chain (BNB) that led the operator – Binance, to halt operations and start investigating.
It’s revealed that an exploit in the chain led to some hackers stealing over $550 million worth of cryptocurrencies from Binance Smart Chain and spreading them to other pools for money laundering. Binance asked the validators to suspend operations on its Chain.
Exploit in Binance Smart Chain
While Binance is known for its reliability in cryptocurrency transactions, the platform has an exploit in its native blockchain – Binance Smart Chain (BNB), that led to over half a billion worth of cryptocurrencies being stolen now.
This was detected at 2:30 PM EST, with the attacker’s wallet receiving two transactions [ 1 , 2 ] of 1,000,000 BNB each. The transfers amount to over $566 million in total value and contain various coins like Ethereum , Polygon, BNB Chain, Avalanche, Fantom, Arbitrum, and Optimism.
is this diversification pic.twitter.com/1M2ER6ZRq3 — foobar (@0xfoobar) October 6, 2022
