Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: bitcoin-shark on October 07, 2022, 09:16:34 PM
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bnb suspends its network for an exploit on the BSC Token Hub bridge, it seems that 100 million dollars have been stolen, the question i want to ask users will they still trust bsc in the future?
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Read the news last night. But like CZ said, everything is under control. But that money is useless. CZ is a powerful figure in crypto. And many exchanges obey him, so anywhere that hacker sends those bnb would freeze it
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I was also surprised that BSC could be so deeply involved. Binance protects the interests of its users, but they face the problem of network decentralization. Perhaps the majority of master nodes are in the hands of Binance, which really does not create peace of mind for users. Anyway, in the early stages of the market, it is easy for us to accept this. The BNB token price was not affected too much by this event.
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This is not the first time to happen in the BNB Chain platform...heck even the platform itself suffered some setbacks months ago...yet those things never affected it that much. In today's environment especially in the world of cryptocurrency nothing can really claim to be so secured...as all can be hacked it is just a matter of time. The most important thing is that there are measures in placed to protect the users and to go after the assets that are hacked. CZ is definitely not a newbie on this problem...and I am trusting that he is always doing the best as he can to solve the whole mess.
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bnb suspends its network for an exploit on the BSC Token Hub bridge, it seems that 100 million dollars have been stolen, the question i want to ask users will they still trust bsc in the future?
https://rekt.news/bnb-bridge-rekt/ I have read this srtikel and $127 Million USD was successfully taken by hackers before BSC Chain was deactivated few hours ago, I think hackers have better experience and found bugs in BSC bridge, things as complex as that are easily bypassed by hackers, but the funds taken are non-refundable, Binance seems to be doing a number of things to prevent this situation from happening again.
and here you can see, how the BSC community worked quickly to respond to the problem https://mobile.twitter.com/samczsun/status/1578167198203289600
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The funds are SAFU, the usual thing to say by CZ. I think in the future that will slowly decrease since mitigation always happen when something like this occur. It's just a good thing that they responded on it and there are compensation to those affected by it, unlike other hacks that happen that either no refund or it will take ages to happen.
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I use and will continue to use this network, because I understand that the world's largest exchange is behind this project, and in such cases they will always find a solution in favor of the community, and there are quite a lot of such hacks in a year and it is necessary to weigh all the risks.
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yes the hacker has been blocked is true but only after having transferred about 110 million $ on other blockchains, who assures us that such an exploit will not repeat itself and perhaps not by creating new bnb but taking those of binance users?
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A hacker stole nearly $600 million worth of cryptocurrency BNB, which is issued and maintained by popular crypto exchange Binance. The hack happened lated on Thursday and was investigated and reported on by security experts @samczsun and Igor Igamberdiev, among others.