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October 25, 2022

BNB Hacker to Be Brought to Justice?

Although blockchain technology is safe, it is still considered in its infancy in the scheme of things, which opens doors for potential hackers. The BNB blockchain, one of the best blockchains for NFTs, fell victim to hackers that targeted $570 million.

The hacker’s identity remains unknown, but tips from law enforcement could be closing the gap and helping BNB narrow down who the hacker is. The hack happened on a cross-chain bridge, which is what helps with transfers between two different blockchains. 

Cross-chain bridges seem to be the weak link in the chain as they saw more than 1 billion lost due to breaches among them this year alone.  

When the attack happened on BNB, the blockchain paused activity immediately in order to mitigate the damage and future attacks. In doing so, the CEO of Binance Changpeng Zhao, assured everyone that the damage was much less than initially expected.

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