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Hackers steal $570 million worth of tokens in attack on Binance

Binancethe world’s largest crypto asset exchange, has suffered an attack that has led to the theft of about 570 million dollars in tokensaccording to Ars Technica. Initially, those responsible for Binance estimated that as a result of the attack, which occurred last week, they had stolen between 100 and 110 million dollars in tokens, but the figure has been increasing over the days, as they were clarified. the facts.

The attack, which targeted the BSC Token Hub, which works as a bridge between two Binance systems, also caused the affected Blockchain to stop working for about eight hours. The attackers have made off with nearly two million of the company’s own digital token, BNB. Each of these tokens is currently worth $284.

This attack has come at a time when the digital assets sector is trying to recover from a crisis that has seen the value of its highest level and most valuable tokens, such as Bitcoin, lose almost two-thirds of their value. But the attacks are damaging this recovery, since according to various data from the sector, the theft of crypto-asset projects is registering a notable increase.

According to Changpeng Zhao, CEO and founder of Binance«the problem is already contained“, and the funds of those who trade through Binance are safe. Zhao has also apologized for the inconvenience caused, as well as ensuring that they will provide more information about the attack and its consequences in due course.

From Binance they have asked the validators of the affected network, who secure the system, to stop their work. Funds were withdrawn from the hub Binance Smart Chain (BSC) Token, a bridge that allows clients to pass tokens tied to one chain to another chain. The hack exploited a vulnerability that generated additional BNB tokens on the network, as confirmed by Zhao himself.

Many of the most widely used Blockchains in the world, such as the aforementioned BSC and Ethereum, run on separate technologies or use different tokens. This means that investors and developers cannot easily move their tokens to a different blockchain to be used or traded elsewhere. Specifically, BSC allows developers who want to create applications that use smart contracts to access Binabce through it, based on their own token.

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