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CZ: Binance close to catching BNB Chain hacker

by Chief editor

Remember our last post about binance smart chain hack? This story now has continuation!

Changpeng Zhao comments on BNB Chain hacking investigation
Binance CEO says the exchange has already “narrowed down” the suspects and is close to catching the culprit
The platform may have lost $570 million in the attack
Today, October 24, CEO of Binance Changpeng Zhao said in a media comment that the company is close to catching the perpetrator of the BNB Chain hack. As a reminder, the platform was in danger of losing $570 million as a result of the hack in early October.

Shortly after the attack, the administration was forced to roll out a patch to fix the exploit. Binance has been investigating all this time and, as Zhao says, has already “narrowed down” the pool of potential suspects.

Thanks to the exchange’s swift action, the damage has been minimised. At this point, only $100 million of the $570 million has been irretrievably lost, with the remaining funds frozen.

Binance continues to investigate and is actively cooperating with law enforcement in the case:

“The police have given us several clues, thanks to which we have been able to narrow down the list of potential suspects.”

Notably, shortly before the hack, Binance launched a training programme for law enforcement agencies around the world. And last week, an ex-FBI agent was hired to staff the US arm of the exchange.

The hacking of the BNB network bridge was a real “slap in the face” for Binance. Apparently, Changpeng Zhao does not plan to let this slide and is already preparing its own top-notch security service.

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