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“The hacker managed to forge such a message that it tricked the logic of the contract into pondering the message was certainly valid, although the hacker didn’t have legitimate claims to the funds. “The bug itself lies in how Binance Bridge processes the proofs of transactions sending the money from one chain to another,” Adrian Hetman, tech lead of the Triaging Team at Immunefi, a web3 bug bounty program provider, advised TechCrunch. The Binance blockchain, also known as BNB Chain and Binance Smart Chain, took the rare step of suspending transactions and fund transfers after discovering a vulnerability affecting the BSC Token Hub cross-chain bridge. BSC Token Hub then proceeded with the payout as everything was valid,” mentioned Hetman. The vulnerability within the BSC Token Hub bridge allowed the attacker to forge messages, enabling them to mint new BNB tokens. In June, a hacker exploited a vulnerability to steal $100 million from Harmony’s Horizon Bridge, and in August, attackers drained $190 million value of crypto from the Nomad cross-chain bridge. Cross-chain bridge hacks have become a standard prevalence up to now yr. Now it appears his firm joins the rising checklist of cryptocurrency businesses which have failed because of a recurring downside – an absence of cash reserves.

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