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<blockquote data-quote="MrCat" data-source="post: 28242285" data-attributes="member: 38575"><p>Lol!!. <img src="/styles/default/xenforo/smilies/default/lol.gif" class="smilie" loading="lazy" alt=":lol:" title="LOL :lol:" data-shortname=":lol:" /> Binance (the exchange) is fine. Nobody`s coins/assets got stolen.</p><p></p><p>As per the available news, the vulnerability was with Binance Smart Chain (BSC) cross-chain bridge (a bridge used to convert crypto from type A to type B). Bridges have a high tendency to get hacked due to their exposed nature. </p><p></p><p>"The attacker had somehow convinced the Binance Bridge to simply send them 1,000,000 BNB. Twice". "That money wasn’t actually stolen from Binance, in other words, but rather fabricated out of thin air thanks to a flaw in the security of Binance’s cryptocurrency. "</p><p></p><p>The way I see it, Binance team`s response and transparency has been great. This is probably why BNB price didnt even move much (crash) on the news. </p><p></p><p>If you care about reading an update from the actual source, not Derana`s rubbish <img src="/styles/default/xenforo/smilies/default/lol.gif" class="smilie" loading="lazy" alt=":lol:" title="LOL :lol:" data-shortname=":lol:" />, <a href="https://www.bnbchain.org/en/blog/bnb-chain-ecosystem-update/" target="_blank">here a blog post.</a> </p><p></p><p>"What happens next? There will be on-chain governance votes to determine the following four actions for the common good of BNB:</p><ol> <li data-xf-list-type="ol">What to do with the hacked funds, freeze or not to freeze?</li> <li data-xf-list-type="ol">Whether to use BNB Auto-Burn to cover the remaining hacked funds, or not?</li> <li data-xf-list-type="ol">A Whitehat program for future bugs found, $1M for each significant bug found.</li> <li data-xf-list-type="ol">A Bounty for catching hackers, up to 10% of the recovered funds. "</li> </ol></blockquote><p></p>
[QUOTE="MrCat, post: 28242285, member: 38575"] Lol!!. :lol: Binance (the exchange) is fine. Nobody`s coins/assets got stolen. As per the available news, the vulnerability was with Binance Smart Chain (BSC) cross-chain bridge (a bridge used to convert crypto from type A to type B). Bridges have a high tendency to get hacked due to their exposed nature. "The attacker had somehow convinced the Binance Bridge to simply send them 1,000,000 BNB. Twice". "That money wasn’t actually stolen from Binance, in other words, but rather fabricated out of thin air thanks to a flaw in the security of Binance’s cryptocurrency. " The way I see it, Binance team`s response and transparency has been great. This is probably why BNB price didnt even move much (crash) on the news. If you care about reading an update from the actual source, not Derana`s rubbish :lol:, [URL='https://www.bnbchain.org/en/blog/bnb-chain-ecosystem-update/']here a blog post.[/URL] "What happens next? There will be on-chain governance votes to determine the following four actions for the common good of BNB: [LIST=1] [*]What to do with the hacked funds, freeze or not to freeze? [*]Whether to use BNB Auto-Burn to cover the remaining hacked funds, or not? [*]A Whitehat program for future bugs found, $1M for each significant bug found. [*]A Bounty for catching hackers, up to 10% of the recovered funds. " [/LIST] [/QUOTE]
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