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Hackers Dissects Binance with $570M

The UK's Binance Ban - Tekedia

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Cryptocurrency exchange Binance had to temporarily suspend transactions after hackers stole digital tokens worth some $570 million. The world’s largest crypto exchange said cybercrooks targeted a so-called cross-chain bridge that allows digital assets to be transferred from one independent blockchain to another. Cross-chain bridges have emerged as a weak point in decentralized finance; researchers estimate that $2 billion worth of cryptocurrency has been stolen in 13 recent cross-chain bridge attacks. Binance CEO Changpeng Zhao told CNBC that no users lost money in the hack, adding, "we just got to learn from these kind of mistakes." (Inews)