Hacker stole $566 million worth of Binance Coins from Binance Bridge

Threat actors have stolen 2 million Binance Coins (BNB), worth $566 million, from the popular Binance Bridge.

Hackers have reportedly stolen $566 million worth of Binance Coins (BNB) from the Binance Bridge.

It seems that threat actors were able to exploit an issue with the bridge, the attack took place at 2:30 PM EST today. The attackers were able to transfer the funds to their wallet through two transactions [1, 2], each of 1,000,000 BNB.

Binance co-founder and CEO Changpeng “CZ” Zhao confirmed the attack and explained that the vulnerability has been contained.

An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.

— CZ 🔶 BNB (@cz_binance) October 6, 2022

The attackers immediately attempted to split the stolen funds through multiple pools, while the cryptocurrency exchange was asking all validators to temporarily suspend BSC.

Most of the stolen funds remained on the BNB Smart Chain and are now secured, the company estimated that between $70M – $80M were taken off the BNB Smart Chain.

The company immediately reassured its customers claiming that their funds are safe.

In response to the incident, the company suspended all deposits and withdrawals via the BNB chain. At the time of this writing, @BNBCHAIN is back online and the company has now resumed.

.@BNBCHAIN is back online. We have now resumed @BNBCHAIN deposits and withdrawals on #Binance.

Thank you for your patience. https://t.co/icZvlWaHGi

— Binance (@binance) October 7, 2022

The cryptocurrency exchange is still investigating the incident.

Follow me on Twitter: @securityaffairs and Facebook

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Pierluigi Paganini

(SecurityAffairs – hacking, Bridge)

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