If this theft had taken place in a physical bank, it would undoubtedly have made more noise.
“Now the problem is under control. Your funds are safe. We apologize for any inconvenience caused […] “, said on his behalf Twitter the head of the Hong Kong Binance platform, Changpeng Zhao.
Binance is a platform that allows you to buy or sell any of the 350 cryptocurrencies referenced (Bitcoin, Ethereum, BNB, etc.).
The “embarrassed” caused? A fraudulent withdrawal of 2 million BNB, cryptocurrency issued by Binance, approximately the equivalent of € 597 million.
The cyber attackers were caught with their hands in the virtual bag and were quickly blocked by the platform. “We managed to limit the damage to less than 100 million dollars”claimed on CNBC the head of Binance.
Binance is a platform that allows you to buy or sell one of the 350 reference cryptocurrencies (Bitcoin, Ethereum, BNB…). © REUTERS / Benoit Tessier
A flaw in the system
In the night between Thursday 6 October and Friday 7 October, in fact, the trading platform teams detected the use of a computer vulnerability on a “bridge”. It is a service that allows cryptocurrency holders to transfer cryptocurrencies from one blockchain to another, specify The echoes.
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An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We asked all validators to temporarily suspend BSC. The matter is now contained. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.
– CZ ?? Binance (@cz_binance) 6 October 2022
Read also : On the cryptocurrency market, beware of scams
Clearly, this intrusion into the computer system did not allow them to steal the cryptocurrencies belonging to users but to generate them. The New Factory compare as follows: “It is as if the hackers were able to print banknotes with the Binance seal, exploiting a flaw in the system.”
By way of comparison with a “robbery” in the real world, the loot stolen from the Saint-Nazaire bank in 1976 amounted to 88 million francs, or 13 million euros.
