From the cryptobears, $56600,000 was stolen: this is the size of the Micronesian economy

From the cryptobears, $56600,000 was stolen: this is the size of the Micronesian economy

The Binance Crime Exchange temporarily suspended its network of blocks after hackers stole 2 million BNB currents totalling approximately $566 million. This is comparable to the annual GDP of a small state, such as Micronesia. Binance stated that an internet bridge linked to its BNB chain had been attacked, allowing hackers to move crypthalate.

The company stated that it had worked with network valifiers, companies and users who confirmed the transactions in the locker, to suspend the creation of new blocks in the locker, suspending all processing of transactions while the development team was investigating the violation.

The break-in was caused by vulnerability in a bridge that handles smart contracts and allowed hackers to fake transactions and send to their crypto wallets the money that went through during transactions. Smart contracts are pieces of code in a locker that allow automatic implementation of agreements without human interference.

Although the fraudsters were able to transfer 2 million Tokens to their crypto wallets, most of them remained in place, Binance reports, and the company estimates that the total amount of money that hackers have recovered from the stock market is between $100 million and $110 million. The company also stated that it was able to freeze $7 million with the help of its security partners.

You can learn more about exchanges, crypts, and exchanges in the first issue of the second season of the podcast, "Be what is to be", prepared by Hytech.