Is Binance hacked?

Link Copied! The crypto industry just can’t catch a break this year. Binance, the world’s biggest cryptocurrency exchange, is investigating a hacking incident that affected a number of crypto tokens Friday. According to its founder and CEO Changpeng Zhao, a private key, used to encrypt or decrypt data, had been hacked.

What happened to Binance?

Just when things were starting to look up for the crypto industry comes news that Binance, the world’s biggest exchange, suffered a major hack on Thursday night. The details are still trickling out, but the short version is that a hacker was able to exploit a so-called bridge and help themselves to 2 million of Binance’s native BNB tokens.

Which crypto exchange was hit by a $570 million hack?

LONDON, Oct 7 (Reuters) - A blockchain linked to Binance, the world's largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year.

What happened to Binance's BNB tokens?

The details are still trickling out, but the short version is that a hacker was able to exploit a so-called bridge and help themselves to 2 million of Binance’s native BNB tokens. Those are worth around $560 million, though Binance is suggesting it may be able to claw much of it back. The implications of this debacle are twofold.