{"id":1677557,"date":"2022-10-07T07:53:15","date_gmt":"2022-10-07T11:53:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1677557"},"modified":"2022-10-07T07:54:33","modified_gmt":"2022-10-07T11:54:33","slug":"binance-linked-blockchain-hit-by-570-million-crypto-hack-binance-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/binance-linked-blockchain-hit-by-570-million-crypto-hack-binance-says\/","title":{"rendered":"Binance-linked blockchain hit by $570 million crypto hack, Binance says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbinance-linked-blockchain-hit-by-570-million-crypto-hack-binance-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1677557&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Elizabeth Howcroft<\/p>\n<p>LONDON (Reuters) -A blockchain linked to Binance, the world\u2019s largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Binance CEO Changpeng Zhao said in a tweet that tokens were stolen from a blockchain \u201cbridge\u201d used in the BNB Chain, which was known as Binance Smart Chain until February. Blockchain bridges are tools used to transfer cryptocurrencies between different applications.<\/p>\n<p>Zhao said the hackers stole around $100 million worth of crypto. BNB Chain later said in a blog post that a total of 2 million of the cryptocurrency BNB \u2013 worth around $570 million \u2013 was withdrawn by the hacker.<\/p>\n<p>The Binance spokesperson said in emailed comments that \u201cthe majority\u201d of the BNB remained in the hacker\u2019s digital wallet address, while about $100 million worth was \u201cunrecovered\u201d.<\/p>\n<p>Blockchain bridges have increasingly become the target of thefts, which have long plagued the crypto sector. <\/p>\n<p>BNB Chain supports the BNB cryptocurrency, formerly known as Binance Coin, which is the world\u2019s fifth-largest token with a market value of some $46 billion, according to CoinGecko data.<\/p>\n<p>Some $2 billion worth of cryptocurrency has been stolen in 13 different bridge hacks, mostly this year, crypto analytics firm Chainalysis said in August. <\/p>\n<p>In March, hackers stole around $615 million from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity, in one of the largest crypto heists on record. The United States linked North Korean hackers to the theft.<\/p>\n<p>BNB Chain suspended its blockchain for several hours before resuming at around 0630 GMT, it said in a tweet.     <\/p>\n<p>It said in its blog post that BNB Chain was \u201cable to stop the incident from spreading\u201d by contacting the blockchain\u2019s \u201cvalidators,\u201d \u2013 entities or individuals who verify blockchain transactions. BNB Chain said there are 44 validators across several different time zones, without giving further details.  <\/p>\n<p>BNB Chain said it would introduce a new \u201cgovernance mechanism\u201d to counter future hacks, as well as to expand the number of validators. <\/p>\n<p>On the Binance website, BNB Chain is described as a \u201ccommunity-driven, open-sourced and decentralized ecosystem\u201d.<\/p>\n<p> (Reporting by Elizabeth Howcroft; Editing by Tom Wilson, Ana Nicolaci da Costa and Louise Heavens)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/hackers-steal-around-100\/attachment\/viva-technology-conference-dedicated-to-innovation-and-startups-at-porte-4\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI960H0-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI960H0-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/hackers-steal-around-100\/attachment\/vivatech-conference-dedicated-to-innovation-and-startups-at-porte-de\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI960GZ-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI960GZ-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Elizabeth Howcroft LONDON (Reuters) -A blockchain linked to Binance, the world\u2019s largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the<\/p>\n","protected":false},"author":66,"featured_media":1889567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1677557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/binance-linked-blockchain-hit-by\/?utm_source=rss&utm_medium=rss&utm_campaign=binance-linked-blockchain-hit-by","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1677557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1677557"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1677557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889567"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1677557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1677557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1677557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}