Binance is ‘narrowing down’ identity of hacker behind $570 million crypto attack CEO says
Cryptocurrency exchange Binance is getting closer to figuring out the identity of a hacker that orchestrated a $570 million hack on its BNB blockchain, CEO Changpeng Zhao told CNBC Monday.
After getting some tips from law enforcement on who the hacker might be, Binance is now “narrowing down” the person or persons behind the attack, Zhao said in an interview on CNBC’s “Squawk Box Europe.”
The attack in question saw a so-called cross-chain bridge targeted, allowing an as-yet unknown hacker or hackers to withdraw 2 million of Binance’s BNB tokens worth around $570 million at the time.
More than $1 billion has been lost to breaches on cross-chain bridges so far this year, tools that facilitate the swift transfer of tokens from one blockchain platform to another, according to Chainalysis data.
Popular in the world of “DeFi,” or decentralized finance, bridges have become a hot target for criminals due to faults in their underlying code.
“We’re still actually chasing … helping [authorities] to chase the bad players, working with law enforcement around the globe,” Zhao said.
Cryptocurrency exchange Binance is getting closer to figuring out the identity of a hacker that orchestrated a $570 million hack on its BNB blockchain, CEO Changpeng Zhao told CNBC Monday.After getting some tips from law enforcement on who the hacker might be, Binance is now “narrowing down” the person or persons behind the attack, Zhao said in an interview on CNBC ‘s ” Squawk Box Europe .”The attack in question saw a so-called cross-chain bridge targeted, allowing an as-yet unknown hacker or hacker s to withdraw 2 million of Binance’s BNB tokens worth around $570 million at the time.More than $1 billion has been lost to breaches on cross-chain bridges so far this year, tools that facilitate the swift transfer of tokens from one blockchain platform to another, according to Chainalysis data .Popular in the world of “DeFi,” or decentralized finance , bridges have become a hot target for criminals due to faults in their underlying code.”We’re still actually chasing … helping [authorities] to chase the bad players, working with law enforcement around the globe,” Zhao said. “Working with law enforcement is one of the ways that we can try to make the space safe.”
