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BNB Smart Chain Resumes Operations After Potential Exploit

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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The BSC chain was halted earlier on Friday after an exploit was discovered that drained $100 million in crypto from the platform. $7 million of the total crypto has already been frozen.

The BNB Smart Chain (BSC) resumed operations at around 06:40 UTC as chain validators adopted a software update that would close the exploit used by hackers to drain funds off-chain.

After the hack, BNBChain made a v1.1.15 available. There were a number of addresses listed on the blacklist that was blocked from future transactions as a result of the exploit. The native cross-chain communication between BNB Beacon Chain and BNB Smart Chain is disabled.

The Platform stated that the BNB Smart Chain (BSC) is functioning normally. Also, the validators are confirming their status and the community infrastructure is upgrading as well.

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