BNB Chain back online after suspension due to a cross-chain exploit
After a brief network suspension as the result of a cross-chain hack, the activity on the BNB Chain is back online. BNB Chain, the native blockchain behind the Binance crypto exchange, is up and running as of Oct. 7 according to an update from the network. Activity on the network was briefly suspended after confirmed rumors of a cross-chain exploit. The blockchain reported that network validators are “confirming their status,” as well as upgrading community infrastructure.BNB Smart Chain (BSC) is running ok from 20+ mins ago. The validators are confirming their status and the community....
Related News
The BNB Chain team released its official statement on Oct. 7 regarding the hack and stolen funds, and a second statement on Oct. 11 on network decentralization. BNB Chain, the native blockchain of Binance Coin (BNB) and the Binance crypto exchange, has been subject to security-related developments over the last month.On Thursday, Oct. 6 the network experienced a multi-million dollar cross-chain exploit. The incident caused BNB Chain to temporarily suspend all withdrawal and deposit activity on the network.Initially, the announcement of the network outage cited “irregular activity” with an....
The upgrade is intended to fix the exploit that drained the platform of $100 million. A hard fork to the BNB Smart Chain, the blockchain of crypto exchange Binance, will take place as a fix for the exploit that drained the platform of an estimated $100 million on Oct. 6, according to a post on GitHub. The release for mainnet and testnet is a "temporary urgent patch to mitigate the cross-chain infrastructure between Beacon Chain and Smart Chain", said the post, aiming to re-enable the cross-chain back. The BNB hard fork, dubbed Moran, will take place at block height 22,107,423 — estimated....
The proof-of-work fork of the Ethereum blockchain was targeted by a cross-chain contract exploit. Post-Ethereum Merge proof-of-work (PoW) chain ETHW has moved to quell claims that it had suffered an on-chain replay attack over the weekend.Smart contract auditing firm BlockSec flagged what it described as a replay attack that took place on Sept. 16, in which attackers harvested ETHW tokens by replaying the call data of Ethereum’s proof-of-stake (PoS) chain on the forked Ethereum PoW chain.According to BlockSec, the root cause of the exploit was due to the fact that the Omni cross-chain....
The $190 million Nomad Bridge exploit is just the latest out of 13 separate bridge attacks in 2022 so far. Cross-chain bridge hacks have accounted for 69% of the total crypto stolen in 2022, amounting to $2 billion in losses, according to a new report. The report comes from blockchain analytics firm Chainalysis on Aug. 2, noting there have been 13 separate token bridge hacks this year — the most recent being the $190 million Nomad Bridge exploit.Q1 2022 was by far the quarter that saw the most amount of crypto stolen since 2021, due mainly to the Ronin Bridge Attack in late March, which....
On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time.
Nomad Cross-Chain Bridge Exploited for $190 Million
Cross-chain bridges in the world of decentralized finance (defi) just can’t catch a break no matter how long they have been running and even after the bridges have been audited. On August 1, 2022, the cross-chain bridge Nomad suffered an attack that....