Binance (BSC) Protocol hacked for $50+ million in DeFi Project : Binance (BSC) Blockchain News
VALLETTA, MALTA | According to CryptoBriefing a latest news headlines now coming out which is related to ‘Binance Smart Chain (BSC) protocol uranium hacked for $50 million USD’s CryptoCurrencies‘ in this 24 hours.
This was largest attack and breaks all markets down again in this April 2021.
Actually, its only happened with Uranium finance project DeFi, but its much impacted on the price of 24HRS/Change in % On other CryptoCurrencies of Binance.
Within It, in the past recent days Binance have been upgraded some system issues on their platform of using like BinanceApp and Binance Website in almost 4 hours of remainings.
Yet another DeFi project on the Binance Smart Chain has fallen to hackers. This time, Uranium Finance was drained of more than $50+ million.
Also all uranium finance joins list of hacked projects.
The attackers exploited a bug in Uranium Finance’s smart contract to swap a single token for almost all other tokens in the protocol’s liquidity pool.
Actually, some code BSC team unable to solved and While the team scrambled to patch the vulnerability, the hacker sent the stolen funds to the Ethereum network, exchanged them for ETH, and sent it to the privacy-preserving mixer Tornado Cash.
All Token were have been transfered on the Ethereum Platform Tornado Cash.
Because of Upgrading of V2 uranium system, then actually happened it.
The exploit occurred during Uranium’s migration to its v2 upgrade. The team is in the process of contacting law enforcement and is currently cooperating with Binance’s security team.
This is not the first hack on the Binance Smart Chain. Many time its happening on their system upgrading by hackers or their team mistake.
Disclaimer: The author held BTC, ETH, and several other cryptocurrencies at the time of writing.