Binance has been hit with a hack that resulted in the theft of around $100 million of tokens issued by the crypto giant.
$100 to $110 million of Binance Coin has been stolen, according to a spokesperson for Binance-backed BNB Chain. This is likely due to a hack involving the bridge, BSC Token Hub, which has now been suspended.
BNB Chain is working with security services to freeze the transfer of stolen funds with at least $7 million already frozen.
Fund Recovery?
According to Binance co-founder Changpeng Zhao, the blockchain issues are «contained now» and the firm «in all likelihood […] will cover any fund that the hackers get away with».
The crypto market has been largely under pressure in 2022 with not only a $2 trillion plunge in market value but also an estimated $2 billion lost to hacks, often by North Korea-linked actors.
