Latest DeFi hack targeting BSC

[TomPluz]

Roughly $12.7 million worth of tokenized Bitcoin has been stolen from the BSC-based cross-chain composability platform pNetwork.

Cross-chain decentralized finance platform pNetwork has become the latest protocol to be targeted by hackers on Binance Smart Chain, reporting a loss of roughly $12.7 million worth of Bitcoin (BTC).

According to a Twitter thread published by pNetwork on Monday, the incursion resulted in 277 pBTC being siphoned from the exchange. The hackers made off with the majority of the network’s collateral, pNetwork added.

Source is HERE.


Another sad incident for the cryptocurrency industry where hacking is now a standard risk a platform has to face 24/7. As the prize can run to millions of dollars, I am not wondering if more and more "evil" people will be concentrating on this "business" and putting up the resources required to be successful in intruding online platforms.

Will we see no solid solutions to this whole problem?