Not many details are available at the moment, but the attack seems to have started on October 6th. It was at this time that the attacker's wallet received two transactions for 1 million Binance coins (BNB) each.
After the transfers, the hacker began distributing funds by transferring BNB to other cryptocurrencies.
Binance acknowledged the incident on October 7th and suspended the BNB smart chain while the incident is being investigated. The Binance CEO then tweeted that an exploit in the BSC Token Hub cross-chain bridge was used to transfer BNB to the attacker’s accounts.
However, there is good news – most of the stolen funds remained on the BNB smart chain and are now inaccessible to hackers. Binance estimates that the attackers managed to withdraw from $70 million to $80 million. And even here, the cybercriminals were not lucky: Binance partners have already frozen $7 million of the funds withdrawn by hackers.
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