Several hundred million dollar BNB hack reported

[369]

Several hundred million dollar BNB hack reported. The team has just announced a temporary pause of Binance Smart Chain. Wow.

https://twitter.com/x/status/1578148078636650496

 

[troubled soul]

Ageless Wisdom - Not your key , Not your coin

Hacker find the way to simply sending twice 1,000,000 BNB from Binance Bridge ...
"Double spend problem you see"
Original Bitcoin white paper....try to solve this problem.......Seems There is no better solution than Bitcoin in this area.
Seems all other coin want to just make money without solving any problem...If hacker find a way to double spend on Bridge the whole ecosystem is Joke for me.....
https://twitter.com/samczsun/status/1578169073505927168/photo/1

Last edited: Oct 7, 2022

 

[Gediminas]

There is a good explanation of what happened. Read the whole thread about it.

https://twitter.com/x/status/1578167198203289600

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[void]

idiocy of people buying any nonBTC as a store of value asset is endless

I wonder how many more painful examples they will need to accept the blatant fact that shitcoins are not any different from fiat scams that took us to this point

 

[Gediminas]

void said:
idiocy of people buying any nonBTC as a store of value asset is endless

I wonder how many more painful examples they will need to accept the blatant fact that shitcoins are not any different from fiat scams that took us to this point
Click to expand...

I would disagree with that. We could only dream about such crypto adoption if there was only Bitcoin.

BNB isn't a shitcoin and I am impressed how an attack on such a scale hasn't affected the market. Any other chain would have been dead now.

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[void]

Gediminas said:
I would disagree with that. We could only dream about such crypto adoption if there was only Bitcoin.
Click to expand...

no problem with disagreement 😉
on the contrary, if there wasn't the FUD produced by shitcoin scams BTC adoption would much further in my opinion - surprisingly enough the main "enemy" is not the state in the first place here

but don't take me wrong, it's perfectly fine they are trying to cut their slice of the pie, works well business-wise for those who run these scams and for traders... good for them - I just think all would be doing better to focus on layer two development over BTC (which will inevitably end up this way) instead of issuing unregulated securities (in the best case)

 

[Simon4466]

Yeah, but idk if we are able to really compare BNB/BNC to BTC as I think it is better compared to something of the likes of ETH (which also has suffered from similar problems, hence why there now is a fork and ETH classic). As BNB/ETH/Solana/etc. are very much smart contract focused, and BTC is simply more for payments (like Monero) / speculation on price.
XMR / BTC are more similar in that regard, as both do not allow for much smart contracts to operate on the network (although Monero does allow for on-chain atomic swaps now).