The attack occurred in October 2022, when the hacker targeted the BNB Chain cross-chain bridge, earning 2 million BNB and staking 920,000 BNB on Venus to lend about $150m in stablecoins.
According to Binance’s BNB Chain blog, hackers drained 2 million BNB tokens from the network on October 6, which is about $518 million at current prices.
CEO Changpeng Zhao had said the exploit was on a cross-chain bridge, BSC Token Hub, which created extra BNB tokens out of thin air. A cross-chain bridge lets users port their digital assets from one blockchain to another. The BSC Token Hub is a bridge between the BNB Beacon Chain (BEP2) and the BNB Chain (BEP20 or BSC).
However, according to Venus VIP-79, only BNBChain can liquidate the position of the hacker 0x489, and the actual liquidation may not necessarily occur after the liquidation is triggered.
According to Venus VIP-79, only BNBChain can liquidate the position of the hacker 0x489, and the actual liquidation may not necessarily occur after the liquidation is triggered.
— Wu Blockchain (@WuBlockchain) June 7, 2023
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