BNB Chain Resumes After Suspension Due To Cross-Chain Exploit

The native blockchain behind the Binance digital asset exchange, BNB Chain, is up and running as of 7th October, as per an update from the network. Notably, the activity on the network was temporarily suspended after confirmed speculations of a cross-chain exploit.

Furthermore, the blockchain reported that network validators are confirming their status, in addition to upgrading community infrastructure.

A few hours before resolving the network suspension, BNB Chain updated the community on Twitter, mentioning validators are working to cease hacker accounts and calling on node runners to update their versions.

Opening estimates of compromised funds were as high as hundred million dollars worth of digital assets. Nevertheless, hours into the situation, the network declared the present estimates of exploited funds to be of the tune of seventy to eighty million dollars, with seven million dollars successfully frozen.

As per an official post on Reddit, the genesis of the compromise took place on the BSC Token Hub, which in the end created “extra BNB.”

This hack comes a few weeks subsequent to the launch of a community-powered security effort to secure users on the BNB network. The AvengerDAO serves to fight against scams, malicious actors and potential exploits.

Notably, there was no mention of the AvengerDAO in relation to the recent incident on the network.