Binance Smart Chain Pauses After $100 Million Mining, CZ Says

The Binance Smart Chain paused on Thursday night after detect a “potential exploit.”

Binance CEO Changpeng “CZ” Zhao then confirmed the issue on Twitter“Mining on a cross-chain bridge, BSC Token Hub, has resulted in additional BNB.” He added: “The affected BSC Token Center is the cross-bridge between the BNB Signaling Chain and the BNB Chain.

“Problem solved now,” wrote CZ. “Your money is safe.”

“This is a separate issue on BSC,” a Binance representative said Luck. The BSC Hub and BNB Chain team did not immediately respond to requests for comment.

CZ also just came a post on Reddit with more details on the exploit, which notes an initial estimate of the stolen funds between $100 million and $110 million, adding that an estimated $7 million has been frozen.

Cross-chain bridge hacks are extremely popular. Case in point: About 2 billion dollars in cryptocurrency was stolen in cross-chain bridge hacks just this year.

Many on cryptocurrencies Twitter also pointed out this: “The bridge is the weak point.”

CZ say on Twitter that there is no rush to move on. “Give developers time to fully understand the root cause, implement fixes, test them thoroughly, and then move on,” he wrote. “Don’t rush now.”


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