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$100m cryptocurrency hacked from Binance-linked blockchain

TBP Desk
07 Oct 2022 17:36:51 | Update: 07 Oct 2022 17:44:36
$100m cryptocurrency hacked from Binance-linked blockchain
A logo on the Binance exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition centre in Paris, France on June 15, 2022 — Reuters Photo

Hackers have stolen around $100 million worth of cryptocurrency from a Binance-linked blockchain, Binance CEO Changpeng Zhao said in a tweet on Friday.

Zhao said the tokens were stolen from a blockchain "bridge" used in the Binance-linked blockchain called BNB Chain, known as Binance Smart Chain until February, reports Reuters.

Blockchain bridges are tools used to transfer cryptocurrencies between different applications.

Separately, BNB Chain said in a tweet that the hack involved $100 million to $110 million of digital tokens, without specifying which token was affected.

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BNB Chain also said on Twitter its activity had been suspended before resuming around 0630 GMT.

Blockchain bridges have in recent month increasingly become the target of thefts, which have long plagued the crypto sector.

On the Binance website, BNB Chain is described as a "community-driven, open-sourced and decentralized ecosystem".

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