Cryptocurrency exchange Binance has temporarily suspended its blockchain network after hackers stole approximately $570 million worth of BNB tokens.
Binance announced late Thursday that a cross-chain bridge linked to its BNB chain was targeted, allowing hackers to remove BNB
tokens from the network. So-called cross-chain bridges are tools that allow the transfer of tokens from one blockchain to another.
The company has suspended the creation of new blocks on BSC and suspended all transaction processing while its developer team investigates the breach. confirmed that they have worked with the company or individual.
Binance is the world’s largest cryptocurrency exchange in terms of trading volume.
An exploit on the BSC Token Hub, a cross-chain bridge, resulted in additional BNB.We have asked all validators to temporarily suspend BSC,” Binance CEO said. Changpeng Chao said in a tweet Thursday night.
“The issue has been resolved. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.”
The BNB chain has since resumed operations .
