Cryptocurrency exchange Binance has temporarily suspended its blockchain network after hackers stole about $570 million in BNB.
The international cryptocurrency exchange Binance, the largest crypto exchange in the world, was hacked, resulting in a loss of $570 million, and according to Forbes, the stolen BNB tokens, about $100 million were recovered.
Binance said late Thursday that the BNP-Chain bridge through which BNP is transferred has been targeted, and such bridges are typically used to transfer cryptocurrencies between different applications.
Binance is the world’s largest cryptocurrency exchange by trading volume.
“The problem has been contained… Your money is safe… We apologize for the inconvenience and will update you as soon as possible,” said Shanping Zhao, CEO of the company, in a tweet.
The company later clarified that a total of two million BNB cryptocurrencies worth about $570 million had been withdrawn by hackers.
BNB Chain is backed by the BNB cryptocurrency, formerly known as Binance Coin, which is the world’s fifth largest token with a market capitalization of about $45.6 billion, according to data from Coinmarketcap.
On Friday, the BNB coin recorded a decline of 4.5% over the past 24 hours, to reach $282.53.