Security News > 2022 > October > Hackers Steal $100 Million Cryptocurrency from Binance Bridge

BNB Chain, a blockchain linked to the Binance cryptocurrency exchange, disclosed an exploit on a cross-chain bridge that drained around $100 million in digital assets.

According to Binance CEO Changpeng Zhao, the exploit on the cross-chain bridge "Resulted in extra BNB," prompting a temporary suspension of the Binance Smart Chain.

"BNB, which stands for 'Build and Build', is the blockchain gas token that 'fuels' transactions on BNB Chain," Binance noted earlier this February.

No user funds are said to have been impacted, since the vulnerability in the BSC Token Hub bridge enabled the unknown threat actor attacker to mint new BNB tokens in an unauthorized manner.

While the hack involved the withdrawal of two million BNB in two transactions, the suspension of the chain prevented the theft of nearly $430 million in crypto, blockchain security firm SlowMist said.

Blockchain analytics firm Chainalysis, in August, estimated that $2 billion worth of cryptocurrency had been stolen in 13 cross-chain bridge attacks, accounting for 69% of total funds stolen in 2022.

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