Binance Smart Chain Reduces BNB Hack Damage by 80%, Oryen Network Shows Strength

Hacks and exploits are sad but a regular occurrence in the crypto industry.

The attackers usually exploit bugs and vulnerabilities in innovative code, draining funds and then vanishing into nirvana. As a result, 2021 alone saw damage of $3.2 billion from hacks and exploits.

Binance smart chain halted

Over the weekend, unknown hackers exploited the Binance Smart Chain’s token bridge. The vulnerability allowed the hackers to withdraw 2M Binance Coins (BNB) worth over $500M from the BEP-2 to BEP-20 bridge.

However, thanks to the fast reaction of the BSC team and all node validators, the damage was isolated to $100M, which had already been bridged over to Ethereum and Fantom.

The remaining hacked funds of over $400M are still sitting on the chain and are under control, according to CZ, the founder of Binance. A future on-chain governance vote will decide the fate of the funds and how the BSC team will proceed.

Oryen Network sees positive reactions

News of such a massive event usually puts a lot of pressure on markets and the overall sentiment. However, due to t