- Changpeng Zhao, cofounder and chief executive officer of Binance, tweeted earlier today that validators were asked to suspend the blockchain due to an exploit on the BSC Token Hub cross-chain bridge, but assured the safety of user funds.
- The BNB Chain initially estimated up to US$80 million worth of cryptocurrencies moved off the chain, with around US$7 million frozen, while Zhao said the impact estimate was around US$100 million.
- Blockchain security firm SlowMist estimated that over US$110 million was moved off the BNB Chain.
- Sun Huang, chief security officer and general manager of Taipei-based fiat-crypto exchange XREX Inc. told Forkast that the operational suspension of the BNB Chain helped freeze hackers’ flows but this also sparked concerns surrounding “centralization.”
- For future incidents, BNB Chain said it will organize on-chain governance votes to determine if it should freeze hacked funds and if it should offer a bounty for catching hackers, BNB Chain said in a statement following the incident.
- BNB was changing hands at US$285.7, down 3% over the past 24 hours at 4:40 p.m. in Hong Kong, according to data from CoinMarketCap.
See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected