The BNB Chain network was paused on Thursday night (6) due to a hacker attack. According to publication in twitter network team official, the blockchain was paused “due to irregular activities”.
Due to irregular activity we’re temporarily pausing BSC. We apologize for the inconvenience and will provide further updates here.
Thank you for your patience and understanding.
— BNB Chain (@BNBCHAIN) October 6, 2022
As per the team, users’ funds are safe, but the team decided to lock down the blockchain until they get more information about the attack.
“All systems are now contained and we are immediately investigating the potential vulnerability. We know that the Community will help and help freeze any transfers. All funds are safe.”
Initial estimates of the amount withdrawn from the network by criminals are between $70 million and $80 million, according to the team itself.
“However, thanks to the community and our internal and external security partners, nearly $7 million has already been frozen ½,” the notice concludes.
The price of BNB, the network’s native utility token – used to pay fees and receive benefits – has dropped by almost 5% in just a few minutes, and is currently trading at $284.67 according to CoinMarketCap.
Before the attack, the token was trading at $294, and minutes after the news, sales volume increased and the price went down.
On Twitter, some users praise the speed with which BNB Chain’s actions were taken, while others criticize the centralization of the blockchain.
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Source: Moneytimes
I am a journalist with over 6 years of experience working in the news industry. I currently work as an author for Global Happenings, and my coverage focuses on Technology news. I have written for various publications, including Reuters, The New York Times and The Guardian.
