BNB takes a hit from an exploit. Here is the level to watch

• BNB fell 3% on Friday after an exploit of $100 million

• The cryptocurrency had already hit the target at or around $300 and was set for a correction

• Potential price action/bullish reversal could occur at or close to $267

Binance BNB/USD fell more than 3% on Friday on exploit news. The overnight hack on the BNB Chain led to a loss of at least $100 million. However, BNB Chain estimates the figure at $7 million, with about $560 million initially targeted. 

The exploit forced a network shutdown for hours before resuming. BNB chain promised users that their funds are safe as it works to freeze any transfers. The attack is deemed to have been perpetrated by a bug in the bridge. It enabled the hacker to breach the security proofs of BNB Chain.

As the hacking event unfolds, BNB has taken a hit. As of press time, the