Binance said a cross-chain bridge linking with its Binance Smart Chain (BSC) was targeted, enabling hackers to move BNB tokens off the network.
"The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly."
The company managed to freeze $7 million of funds with the help of its security partners, the spokesperson added.Binance Smart Chain is a network developed by Binance in 2019. Like other blockchains, it features a native token, called BNB, that can be traded or used in games and other applications., with instances of sloppy engineering making them a prime target for cybercriminals.
In Binance's case, the bridge impacted was BSC Token Hub, which connects Binance's BSC chain with another network called the BNB Beacon Chain.
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