Hackers Dissects Binance with $570M
Quote from Ndubuisi Ekekwe on October 7, 2022, 10:32 PMSomething to learn from:
Cryptocurrency exchange Binance had to temporarily suspend transactions after hackers stole digital tokens worth some $570 million. The world’s largest crypto exchange said cybercrooks targeted a so-called cross-chain bridge that allows digital assets to be transferred from one independent blockchain to another. Cross-chain bridges have emerged as a weak point in decentralized finance; researchers estimate that $2 billion worth of cryptocurrency has been stolen in 13 recent cross-chain bridge attacks. Binance CEO Changpeng Zhao told CNBC that no users lost money in the hack, adding, "we just got to learn from these kind of mistakes." (Inews)
Something to learn from:
Cryptocurrency exchange Binance had to temporarily suspend transactions after hackers stole digital tokens worth some $570 million. The world’s largest crypto exchange said cybercrooks targeted a so-called cross-chain bridge that allows digital assets to be transferred from one independent blockchain to another. Cross-chain bridges have emerged as a weak point in decentralized finance; researchers estimate that $2 billion worth of cryptocurrency has been stolen in 13 recent cross-chain bridge attacks. Binance CEO Changpeng Zhao told CNBC that no users lost money in the hack, adding, "we just got to learn from these kind of mistakes." (Inews)