Cryptocurrency exchange last night Binanceannounced that the BNB Chain (BSC) network has been discontinued.
Binance stated that after the attack on the network’s official cross-chain bridge, it will stop deposits and withdrawals made through BNB Chain. After the attack, work started to open the network.
BNBChain Attacked Cross-Chain
As Binance founder and CEO Changpeng Zhao (CZ) reported, a vulnerability in BSC Token Hub, a cross-chain bridge, affected BNB.
In the statements made by BNB Chain immediately after the attack, which took advantage of the vulnerability, it was stated that BSC was temporarily paused due to uncontrolled activity and an update would be made.
An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.
— CZ 🔶 Binance (@cz_binance) October 6, 2022
Activation efforts were first initiated by asking all validators to temporarily suspend the BSC. At the same time, it was announced that the attack was under control and the funds were safe.
Urgent Update Call from Binance to Nodes
BNB Chain has requested that BSC validators contact them so that a Node upgrade can be scheduled.
The Binance team, which has been working to activate the network since night hours, shared the latest version for BSC Nodes this morning. It also announced that they are working in coordination to activate BNB Chain within 1 hour.
2. Native cross-chain communication between BNB Beacon Chain and BNB Smart Chain is disabled
We ask that all node runners try to upgrade to the version listed above.
Validators and communities will discuss further upgrades to fully resolve the situation.
2/2
— BNB Chain (@BNBCHAIN) October 7, 2022
In the announcement, “Local cross-chain communication between BNB Beacon Chain and BNB Smart Chain has been disabled. We request that all Nodes try to upgrade to the version listed above.” it was said.
Funds received from BSC are stated to be between $100 million and $110 million at an initial estimate. However, with the community and internal and external security partnerships, an estimated $7 million was frozen.
