Home Cryptocurrency News Hackers Steal $100 Million Cryptocurrency from Binance Bridge – The Hacker Information

Hackers Steal $100 Million Cryptocurrency from Binance Bridge – The Hacker Information

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BNB Chain, a blockchain linked to the Binance cryptocurrency trade, disclosed an exploit on a cross-chain bridge that drained round $100 million in digital belongings.

“There was an exploit affecting the native cross-chain bridge between BNB Beacon Chain (BEP2) and BNB Sensible Chain (BEP20 or BSC), often known as ‘BSC Token Hub,'” it said final week. “The exploit was by a complicated forging of the low stage proof into one frequent library.”

In keeping with Binance CEO Changpeng Zhao, the exploit on the cross-chain bridge “resulted in extra BNB,” prompting a temporary suspension of the Binance Sensible Chain (BSC).

“BNB, which stands for ‘Construct and Construct’ (previously referred to as Binance Coin), is the blockchain fuel token that ‘fuels’ transactions on BNB Chain,” Binance noted earlier this February.

No consumer funds are mentioned to have been impacted, for the reason that vulnerability within the BSC Token Hub bridge enabled the unknown menace actor attacker to mint new BNB tokens in an unauthorized method.

Whereas the hack concerned the withdrawal of two million BNB in two transactions, the suspension of the chain prevented the theft of almost $430 million in crypto, blockchain safety agency SlowMist said.

It’s the latest in a sequence of major incidents focusing on cross-chain bridges – which facilitate switch of belongings between blockchains – this yr, after that of Axie Infinity, Harmony Horizon Bridge, and Nomad Bridge.

Blockchain analytics agency Chainalysis, in August, estimated that $2 billion value of cryptocurrency had been stolen in 13 cross-chain bridge assaults, accounting for 69% of complete funds stolen in 2022.

The event additionally comes as cybersecurity firm Bitdefender revealed particulars of a cryptojacking marketing campaign that exploits recognized DLL side-loading vulnerabilities in Microsoft OneDrive to ascertain persistence and deploy crypto miner software program.

In a associated improvement, Pattern Micro revealed {that a} malicious actor dubbed Water Labbu focused 45 crypto-based fraudulent web sites operated by other criminals to divert victims’ funds to a pockets below their management.

“In a parasitic method, the menace actor compromised the web sites of different scammers posing as a decentralized utility (DApp) and injected malicious JavaScript code into them,” the corporate said in an evaluation final week.

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