Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Binance => Topic started by: Tanimariya on May 27, 2021, 06:58:51 AM
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Binance is not responsible for "rug pulls" on Binance Smart Chain, an exchange representative says. Decentralized finance protocols built atop Binance’s smart-contract blockchain, Binance Smart Chain, have suffered an increasing number of hacks or exploits. Those include an exploit earlier this month on bEarn Fi that resulted in an $11 million loss.
A Binance representative on Wednesday suggested that’s just the way things are in DeFi, and there’s little the world’s largest exchange can do to roll back the exploits. It’s the case even though the exchange retains a significant degree of control over Binance Smart Chain, making it far more centralized than competing blockchains. Source
(https://www.coindesk.com/binance-rollback-not-possible-defi-exploits-binance-smart-chain)