$100 million of Binance Coin stolen
Crypto Hacked Again in $100 Million Theft of Binance Coin
An exploit occurred on a bridge between blockchains and the issue is “contained now,” Changpeng “CZ” Zhao, billionaire co-founder of Binance, the world's biggest crypto exchange, said on Twitter on Friday.
A spokesperson for Binance-backed blockchain BNB Chain estimated the incident involved $100 million to $110 million of digital tokens. At least $7 million of stolen funds has already been frozen, the spokesperson added. The bridge, BSC Token Hub, has been suspended.
About $2 billion has been lost in crypto hacks this year, many perpetrated by North Korea-linked groups. Cross-chain bridges used to transfer tokens across blockchains have been a popular target.
BNB Chain said it's working with security services to freeze transfers of stolen funds. Binance Coin, also known as BNB, fell as much as 3.3% on Friday and was trading around $285 as of 10:08 a.m. in Tokyo.
The crypto sector has been pummeled both by hacks and a deep rout that's wiped some $2 trillion off the value of digital assets.
The wider crypto markets took the latest developments in their stride. Bitcoin was little changed at around $20,000.