Binance Smart Chain halts after $100 million exploit, CZ says

Binance Smart Chain paused on Thursday evening after detecting a “potential exploit.”

Binance CEO Changpeng “CZ” Zhao afterwards verified the situation on Twitter, saying, “An exploit on a cross-chain bridge, BSC Token Hub, resulted in added BNB.” The BSC Token Hub impacted is the cross-chain bridge amongst the BNB Beacon Chain and the BNB Chain, he included.

“The situation is contained now,” CZ wrote. “Your resources are safe.”

“This is an isolated situation on BSC,” a Binance agent told Fortune.

CZ also pointed to a Reddit put up with extra facts of the exploit, which noted an preliminary estimate of money stolen ranging from $100 million to $110 million, introducing that an approximated $7 million had been frozen.

In response to a ask for for remark, the BSC Hub and BNB Chain groups referred Fortune to the Reddit put up cited by CZ.

Cross-chain bridge hacks are very common. Situation in level: About $2 billion in cryptocurrency has been stolen in cross-chain bridge hacks just this 12 months.

A lot of on crypto Twitter also pointed this out: “Bridges are the weakness.”

CZ said on Twitter that there is not a rush to resume. “Let’s give the devs time to totally understand the root lead to, implement the fixes, check them totally, and then resume,” he wrote. “Let’s not rush it now.”

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