Hacker Steals $100 million from BNB Chain

The chain has now resumed service.

The BNB chain was halted for several hours yesterday , the culprit – another hacker. The hacker got away with $100 million in an attempt to drain $560 million in BNB tokens from the bridge of BNB.

The hack forced the network to be shut down in an attempt to mitigate losses. The BNB tokens were being drained from the BSC Token Hub which is the cross-chain bridge. The funds were successfully stolen and siphoned to other chains. 

Changpeng Zhao, the CEO of BNB chain and Founder of Binance made a tweet about the situation.

The BNB chain coordinated with validators to temporarily suspend smart chain functions and in a Reddit post Zhao explained that investors’ funds were safe.

The total amount stolen Seems to have reached up to $127M with the ill-gotten funds sent to other chains such as Ethereum, Polygon, Arbitrum, AValance, and Fantom. The majority of the $560M that was targeted is still on the BNB chain but there is a chance those funds are frozen for the moment.

Currently all functions have resumed on the BNB smart chain and an investigation is continuing with hopes of freezing more of the stolen goods from being moved. 

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