Hacking the decentralized finance project “BXH” built on the Binance blockchain and stealing 130 million dollars
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Answer Hacking the decentralized finance project “BXH” built on the Binance blockchain and stealing 130 million dollars
The list of hacked DeFi protocols continues to grow especially on the Binance Blockchain (BSC).
Earlier today, the BXH team reported a hack.
The official Twitter account revealed that the attack was limited to the Binance blockchain and that BXH, Ethereum, OEC and HECO digital assets remained secure.
Later, security platform Slowmist revealed that hackers managed to steal $130 million in assets from the protocol.
BXH also released addresses used by hackers to steal funds and asked all centralized and DEX exchanges to freeze said accounts.
They also asked the pirates to return the money and offered them a reward for it.
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The volume of cryptocurrencies stolen from the “BXH” protocol is second only to “Poly Network” which became the victim of the largest hack in the decentralized finance arena, resulting in the loss of assets worth more than $ 600 million.
While “Poly Network” was fortunate that it was able to contact the hacker soon after, who eventually decided to return the money, after he tried to launder it across different trading platforms but was unable to do so.
DeFi hacks continue:
The decentralized finance arena has emerged as one of the biggest success stories in the crypto world over the past couple of years, transforming into a multi-billion dollar industry within one year.
However, despite its increasing prevalence, security vulnerabilities across many protocols have eroded public trust in the Defi ecosystem, especially the Binance Smart Chain.
The original Binance network became very popular during the height of this year’s bull run in March due to the heavy network congestion on Ethereum.
However, security has been a major issue for the platforms and protocols that build on the Binance blockchain.
BXH did not reveal the exact details of the hack, but quick loan attacks were very common on the BSC blockchain and it is also possible that it was also hacked by fast loan.
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Currently, the eyes are closely watching whether the “BXH” project is as lucky as the “Poly Network” and gets its money back.
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