Crypto Opinions & News Binance Blockchain Suffers $570 Million Hack

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https://arstechnica.com/information-technology/2022/10/binance-blockchain-suffers-570-million-hack/

Hackers have stolen around $570 million in tokens from Binance, in a rare blow to the world’s biggest crypto exchange and another dent to the troubled digital assets industry struggling to regain trust after a collapse in prices.

Binance initially estimated on Friday that tokens worth about $100 million to $110 million had been taken, pausing the operation of the affected blockchain for approximately eight hours. However, the exchange later disclosed that the hacker had taken around 2 million of the cryptocurrency BNB, Binance’s own digital token, with a value of around $284 each. The hack targeted BSC Token Hub, a bridge between two Binance systems.

Binance blockchain suffers $570 million hack

World’s largest crypto exchange targeted in security breach.

arstechnica.com

 

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Hackers have stolen around $570 million in tokens from Binance

Next: The first billion dollar hack will be crypto.

Remember, in crypto there is zero consumer protection. But the people who are in crypto to make money don't tell that fact to the average Joe. Less than 10% of crypto investors make significant profits, while most everybody else loses.

Anything that undermines and rids the world of the crypto cancer, I'm behind it 100%.