BNB Chain Hack Loses $1.6B, Immunefi Investigation Unveils! - Coincu
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LIVE UPDATES • A DNS Attack On Squarespace Puts Crypto Domains At Risk, Says CoinGecko COO • BlockDAG’s Dev Release 70 Highlights X1 Miner’s Upgrades as App Goes Live on Apple Store; Presale Value Surges by 1300% • BNB Chain Hack Loses $1.6B, Immunefi Investigation Unveils! • US Lawmakers Demand Release Binance Executives by Nigerian Government! • Tether USDT Redemptions Will Be Stopped on Multiple Blockchains in 2025 • Hamster Kombat Second Airdrop Will Be Launched In The Next 2 Years • SEC Investigation Into Paxos Now Ends With Softer BUSD Classification • Iggy Azalea’s MOTHER Token Surges 47% Post DWF Labs Partnership! • TRON ($TRX) and XRP ($XRP) Shine, But DigiHorse Empires ($DIGI) is the Next Big Thing You Can’t Afford to Miss • JPMorgan Crypto Prediction Shows A Strong Market Rebound In August
News BNB Chain Hack Loses $1.6B, Immunefi Investigation Unveils! 35 mins ago - Around 2 mins mins to read
Key Points:
Immunefi’s report reveals BNB Chain’s staggering $1.64 billion losses since 2017, primarily due to hacker attacks ($1.27 billion) and rug pulls.
The report details 228 Rug Pull incidents on the BNB Chain, with the largest case involving $40 million in November 2022, highlighting vulnerabilities.
The report from Immunefi indicates that since 2017, the BNB Chain hack has lost a total of $1.64 billion resulting from hacker attacks and rug pulls.
According to the report, about $1.27 bln of these losses resulted from BNB Chain hacker attacks, with the rest caused by rug pulls incidents.
So far, 228 rug pull cases have been reviewed, with $368 million in losses. Notably, November 2022 recorded the most significant rug pull incident, with one of them, the DeFiAI case, resulting in a loss of $40 million due to rug pull.
Immunefi comments that cumulative losses on the Ethereum chain amount to $3.6 billion; however, only 4.4% of those losses were due to incidents of rug pull—in sharp contrast and, therefore, quite clearly depicting different risk profiles between the two blockchain networks.
Impact of Hard Forks on BNB Chain Hack’s Security and Financial Loss Mitigation
After hard forks to improve the vulnerabilities on this network, the BNB Chain hack recorded decreased losses in 2023 and 2024. These efforts were part of the constant battle to improve security and reduce further risks on the blockchain.
The report confirms yet another undisputable fact: blockchain networks have continuously been experiencing a security crisis due to the emergence of threats. This warns that more stringent security measures would be highly relevant in ensuring the safety of users’ funds and people’s trust in decentralized finance platforms.
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Key Points:
Immunefi’s report reveals BNB Chain’s staggering $1.64 billion losses since 2017, primarily due to hacker attacks ($1.27 billion) and rug pulls.
The report details 228 Rug Pull incidents on the BNB Chain, with the largest case involving $40 million in November 2022, highlighting vulnerabilities.
The report from Immunefi indicates that since 2017, the BNB Chain hack has lost a total of $1.64 billion resulting from hacker attacks and rug pulls.
According to the report, about $1.27 bln of these losses resulted from BNB Chain hacker attacks, with the rest caused by rug pulls incidents.
So far, 228 rug pull cases have been reviewed, with $368 million in losses. Notably, November 2022 recorded the most significant rug pull incident, with one of them, the DeFiAI case, resulting in a loss of $40 million due to rug pull.
Immunefi comments that cumulative losses on the Ethereum chain amount to $3.6 billion; however, only 4.4% of those losses were due to incidents of rug pull—in sharp contrast and, therefore, quite clearly depicting different risk profiles between the two blockchain networks.
Impact of Hard Forks on BNB Chain Hack’s Security and Financial Loss Mitigation
After hard forks to improve the vulnerabilities on this network, the BNB Chain hack recorded decreased losses in 2023 and 2024. These efforts were part of the constant battle to improve security and reduce further risks on the blockchain.
The report confirms yet another undisputable fact: blockchain networks have continuously been experiencing a security crisis due to the emergence of threats. This warns that more stringent security measures would be highly relevant in ensuring the safety of users’ funds and people’s trust in decentralized finance platforms.
Visited 12 times, 12 visit(s) today
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Key Points:
Immunefi’s report reveals BNB Chain’s staggering $1.64 billion losses since 2017, primarily due to hacker attacks ($1.27 billion) and rug pulls.
The report details 228 Rug Pull incidents on the BNB Chain, with the largest case involving $40 million in November 2022, highlighting vulnerabilities.
The report from Immunefi indicates that since 2017, the BNB Chain hack has lost a total of $1.64 billion resulting from hacker attacks and rug pulls.
According to the report, about $1.27 bln of these losses resulted from BNB Chain hacker attacks, with the rest caused by rug pulls incidents.
So far, 228 rug pull cases have been reviewed, with $368 million in losses. Notably, November 2022 recorded the most significant rug pull incident, with one of them, the DeFiAI case, resulting in a loss of $40 million due to rug pull.
Immunefi comments that cumulative losses on the Ethereum chain amount to $3.6 billion; however, only 4.4% of those losses were due to incidents of rug pull—in sharp contrast and, therefore, quite clearly depicting different risk profiles between the two blockchain networks.
Impact of Hard Forks on BNB Chain Hack’s Security and Financial Loss Mitigation
After hard forks to improve the vulnerabilities on this network, the BNB Chain hack recorded decreased losses in 2023 and 2024. These efforts were part of the constant battle to improve security and reduce further risks on the blockchain.
The report confirms yet another undisputable fact: blockchain networks have continuously been experiencing a security crisis due to the emergence of threats. This warns that more stringent security measures would be highly relevant in ensuring the safety of users’ funds and people’s trust in decentralized finance platforms.
Visited 12 times, 12 visit(s) today