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BINANCE SMART CHAIN DEFI HACK - $ 140 MILLION STOLEN!



The Binance Smart Chain Ecosystem is one of the largest blockchain communities in the world. Now a decentralized financial protocol has been hacked and over $ 140 million stolen. The DeFi project is BXH.

Yesterday, Saturday, October 30, 2021, the official BXH Twitter account announced that the token of the same name on the Binance Smart Chain had been attacked. However, other blockchains are secure. Now the competent help of BSC and Peckshield should be used so that the security gap is closed immediately.

The deposit and withdrawal service has been temporarily suspended for security reasons. The addresses of the hackers are listed in the announcement below. According to Block Explorer , the BSC address contains $ 8.1 million in BNB and $ 82.5 million in other Binance Smart Chain tokens.

Over $ 1,000 in Ethereum and $ 17.2 million in ERC20 tokens are also held. Most of the ERC20 tokens are wrapped in Ethereum. The BTC address holds 198.1 BTC, which is currently worth around $ 12.4 million.


BXH reclaims $ 140 million

The total amount of stolen coins is around $ 140 million at the time of going to press. Such high sums of money are no longer unusual with DeFi hacks. Because at the end of 2021 there will be an enormous number of DeFi projects with often only very poorly thought-out benefits.

BXH has blacklisted the address. This list is supported by many different exchanges. Should the hacker try to withdraw the stolen coins and tokens via known exchanges, his account will simply be frozen. It becomes difficult here if a decentralized exchange is used without a central interface.

Not the first DeFi hack

The current hack from the BXH project on the Binance Smart Chain is not the first hack in this direction. Many different projects have also been hacked. One of them is Poly Network, a cross-blockchain DeFi platform that is now behind BXH.

Poly Network explains:

To avoid further transmissions, Poly Network will suspend the cross-blockchain services related to stolen assets on BSC. Other blockchains are not affected.

There was a hack at Poly Network a few months ago, but a large part of the loot has already been repaid. This was a good-natured hacker who only publicly uncovered the security leak, but sent the money back.

But not only new and high-risk blockchain platforms can harbor the risk of hacks. Stock exchanges are also often the target of hackers. The Liquid Exchange fell victim to a hack a few months ago with a loss of over $ 80 million. Often such hacks are the reason for the bankruptcy of the company behind them. Other customers then quickly have a total loss, even if their coins were not directly affected by the hack.

As always, it is said: Only hold a very small and really necessary part on central stock exchanges. Not your keys, not your coins!

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