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    11-Oct-2022 06:20 AM


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    Crypto Hack Worth $570 Million Hits Binance-Linked Blockchain

    Binance-linked blockchain hit by $570 million crypto hack A blockchain linked to Binance, the world's largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year.

    Blockchain bridges are tools used to transfer cryptocurrencies between different applications.
    The hackers stole around $100 million worth of crypto, Zhao said in his tweet.

    Elliptic, a London-based crypto blockchain researcher, told Reuters that the hacker had minted 2 million new BNB tokens before transferring most of the funds to other cryptocurrencies including Tether and USD Coin.
    BNB Chain was "able to stop the incident from spreading" by contacting the blockchain's "validators," - entities or individuals who verify blockchain transactions, it said in its blog post.

    There are 44 validators across several different time zones, it added without elaborating.
    Source: NDTV
    #Binance