Finance Bridge Hit by USD 560 Million Hack

Hackers have stolen more than USD 560 million worth of cryptocurrency from Finance Bridge by taking advantage of a cross-chain bridge.

Finance Bridge is a Blockchain bridge that runs on the Finance Coins (BNB) Smart Chain and aids in the transfer of data and assets between Blockchains. Changpeng Zhao, CEO of Finance, revealed on Twitter on Thursday that hackers had taken advantage of a flaw in the BSC (BNB Chain) Token Hub cross-chain bridge (Blockchain bridge). Zhao estimates that the hack affected about USD 100 million worth of BNB in total.

However, it was claimed that two transactions totaling one million BNB each and more than USD 560 million were made to the attackers’ wallet. Finance announced that it collaborated with validators to temporarily suspend BSC and freeze transfers in addition to acknowledging the hack.

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