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BNB Chain, the blockchain of crypto exchange Binance, was paused on Oct. 6 due to an exploit on its cross-chain bridge, with attackers making off with an estimated $100 BNB Chain suffered a $566 million exploit Thursday after a hacker tricked the BSC Token Hub bridge into sending them two million BNB. The hacker took a novel approach BNB Smart Chain, the blockchain of prominent crypto exchange Binance suffered a $570 million exploit, with attackers swindling over $110 million worth of cryptocurrency. Hackers attempted to drain $560 million in BNB tokens overnight from the blockchain's bridge, with more than $100 million successfully siphoned to other chains. The attack prompted 26 of BNB Chain’s validators to act, preventing what could’ve been a $570 million hack, or the value of the 2 million BNB tokens that were

Binance BNB Chain Resumes Functionality Post Hack: What You Need to Know

BNB Chain, the blockchain of crypto exchange Binance, has resumed functionality following a recent security incident. Stay informed about the latest updates, security measures, and the impact of the exploit on the BNB ecosystem.

The BNB Chain Hack: A Recap

On Oct. 6, BNB Chain was paused due to an exploit on its cross-chain bridge. Hackers attempted to drain $560 million in BNB tokens overnight from the blockchain's bridge, with more than $100 million successfully siphoned to other chains. This attack prompted 26 of BNB Chain’s validators to act, preventing what could’ve been a $570 million hack, or the value of the 2 million BNB tokens that were at risk. BNB Smart Chain, the blockchain of prominent crypto exchange Binance suffered a $570 million exploit, with attackers swindling over $110 million worth of cryptocurrency.

BNB Chain suffered a $566 million exploit Thursday after a hacker tricked the BSC Token Hub bridge into sending them two million BNB. The hacker took a novel approach, demonstrating the evolving sophistication of exploits within the crypto space.

Functionality Restored: What Has Changed?

Following the pause, the BNB Chain team implemented crucial security updates and conducted a thorough review of the network. These measures aim to prevent similar incidents in the future and enhance the overall security of the BNB Chain ecosystem.

Impact on BNB Holders

While the exploit was significant, the swift action of validators prevented a far greater loss. Binance has assured users that their funds are safe and that the network is now operating with enhanced security protocols. Users are encouraged to remain vigilant and follow best practices for securing their crypto assets.

Moving Forward: Enhanced Security Measures

The incident has highlighted the importance of robust security measures in the DeFi space. BNB Chain is committed to continuously improving its security infrastructure and working with the community to foster a safe and secure environment for all users.

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