Binance: Giant hack on the BSC? The blockchain at a standstill

Potentially the victim of a major hack concerning a bridge (gateway to other blockchains), the network BNB Chain was shut down earlier in the evening. The Binance blockchain seems to have been the victim of a hack potentially involving large sums of $BNB, stablecoin $BUSD and other tokens.

Binance: the BNB Chain at a standstill

Since around 12:20 a.m. French time, the BNB Chain blockchain has been put on holdeffectively prohibiting any operation on the network.

“Due to irregular activity, we are temporarily pausing the BSC. We apologize for the inconvenience and we will provide further updates here. Thank you for your patience and your understanding. We are temporarily suspending all deposits and withdrawals through the BNB channel until there are further updates. »

BNB Chain Official Statement

This “irregular activity” may actually turn out to be a potential hack having touched one of the active bridges on the BNB Chain.

Reported by our colleagues from Oak, 1 million BNB (the native token of Binance, i.e. 280 million dollars) could have been affected by the compromise of the BSC bridge.

Some data even evoke the sum of $718 million having been the subject of suspicious movements in the evening, without the hypothesis that these are transfers emanating from a “whale” (or from the Binance platform itself) cannot be excluded as it stands information available. In detail, we would be talking about 1 million BNB, 389 million in VenusBNB and 29 million BUSD (Binance’s home stablecoin).

A $718 million BSC hack?

If the situation is still unclear, Tether (USDT) seems to have already made address freezes affected by this potential piracy.

This article will be updated as new information becomes available.

John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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