$570 million cryptocurrency attack targets blockchain connected to Binance
Join Our Telegram channel to stay up to date on breaking news coverage According to a representative for Binance, the largest cryptocurrency exchange in the world, a $570 million theft has affected a blockchain connected to the company. This is the latest in a string of attacks that have hit the cryptocurrency industry this year. In a tweet, Binance CEO Changpeng Zhao said that tokens had been taken from a blockchain “bridge” utilized in the BNB Chain, formerly known as the Binance Smart Chain until February. Utilizing blockchain bridges, cryptocurrency can be moved across other apps. According to researcher Chainalysis, thieves are increasingly focusing on them, with about $2 billion stolen in 13 distinct hacks, largely this year. According to Zhao’s post, the thieves made off with almost $100 million worth of cryptocurrency. Later, according to a blog post by BNB Chain, the hacker withdrew a total of 2 million BNB coins, valued at about $570 million. Accor...