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　　Blockchain network security is challenged again! Recently, Binance BNB Chain, the world's largest cryptocurrency exchange by trading volume, was hacked, 2 million BNBs were stolen, and the founder of Binance said that the current loss is about 100 million US dollars. Subsequently, BNB Chain suspended investor deposits and withdrawals.

　　It is reported that this hacking attack resulted in the theft of about $718 million worth of assets, including 2 million BNB.

　　The exchange owned by the "Chinese richest man" was hacked and the loss was as high as 700 million yuan

　　In the early morning of October 7, the smart contract platform Binance Chain BNB Chain was attacked by hackers, and 2 million Binance coins were looted in just 2 hours.

　　Subsequently, Changpeng Zhao, the founder of Binance, posted on the social platform that the current loss is about 100 million US dollars (about 710 million yuan). Binance has suspended investor deposits and withdrawals. He pointed out that the "attack" that shook the entire industry was mainly caused by a vulnerability on the cross-chain bridge "Token Hub" (Token Hub).

　　Changpeng Zhao said, "This problem has been brought under control, and customers' funds are safe. We apologize for the inconvenience caused to investors and will provide further system updates in the future." "We cannot give specific upgrade estimates for the time being. Time, Binance is giving developers time to fully understand the root cause of this incident, implement fixes and conduct in-depth testing before continuing.”

　　The official account of BNB Chain stated that due to abnormal activities, it is currently under maintenance, and all deposits and withdrawals through the BNB chain are temporarily suspended until further updates. “We suspended BNB Chain after identifying a potential vulnerability, all systems are now under control, we are investigating the potential vulnerability, and we know the community will assist and help freeze any transfers.”

　　Paradigm researcher samczsun said on social media that on-chain data and related codes show that there is a bug in the verification method of the BSC cross-chain bridge, which may allow attackers to forge arbitrary messages. In this attack, the attacker forged information passed the verification of the BSC cross-chain bridge, so that the cross-chain bridge sent 2 million BNB to the attacker's address.

　　According to DeBank data, attackers of BNB Chain vulnerabilities used cross-chain bridges such as Stargate and Multichain to transfer assets, sending about $53.35 million and $48.8 million to Ethereum and Fantom networks respectively, and about $430 million still remains on BNB Chain.

　　According to the monitoring by the security team of Ouke Cloud Chain, as of the current time, the balance of the hacker address has 1.02 million BNB, 41.28 million vBNB, 28.81 million BUSD, and 2.77 million USDT. Calculated at the current market price, the cumulative value is over $700 million. The loss of this hacking incident exceeded the last Ronin Network’s $620 million, and it is the largest amount of money hacked to date.

　　According to an independent analyst on the social media account CIAOctor, the hack currently includes 1.04 million BNB, venusBNB worth $389 million, and $28 million in BUSD, for a total of $718 million. This amount is the largest on-chain attack in history.

　　BNB token price drops

　　Affected by this event, on October 7, the price of BNB token dropped rapidly from $293 to $280. At press time, the BNB price is $280.8.

　　The founder's worth has shrunk by more than 60%, and he once reached the top of the "Chinese richest man"

　　It is reported that BNB Chain is incubated by Binance, the world's largest cryptocurrency exchange, and consists of BNB Beacon Chain and BNB Smart Chain. Its network token "BNB" is currently the fifth largest cryptocurrency by market value.

　　The founder and CEO of Binance is Changpeng Zhao, who once served as the technical director of Bloomberg; he later founded Fuxun Information Technology Co., Ltd. He is not only the founder, but also the president of China. Changpeng Zhao also joined OKCoin as a co-founder, served as CTO, managed OKCoin's technical team, and was in charge of OKCoin's international market team, quickly establishing OKCoin's international influence.

　　In July 2017, Changpeng Zhao and his team created the digital currency trading platform Binance, which opened his real road to wealth. Half a year later, Binance users reached 6 million, becoming the world's largest cryptocurrency exchange and maintaining its leading position in the industry to this day.

　　In February 2018, Forbes released the first rich list in the digital currency field. Ripple founder Chris Larsen ranked first with a net worth of $7.5-8 billion; Binance founder Changpeng Zhao ranked third with a net worth of $1.1-2 billion , the only Chinese in the top ten. And on the cover of this issue of Forbes magazine.

　　At the end of 2021, according to Caijing, the valuation of the cryptocurrency platform Binance will reach $300 billion, and its founder Changpeng Zhao holds a 30% stake in Binance. According to this calculation, Changpeng Zhao is worth about 90 billion US dollars (equivalent to 573.3 billion yuan). This also means that Changpeng Zhao has become the richest man in China and ranks among the top ten richest people in the world. In April 2022, Changpeng Zhao was ranked 20th on the "2022 Forbes Global Billionaires List" with US$65 billion.

　　Since the beginning of this year, the virtual currency market has dived many times, and BNB has also dropped from a high of $654 in November last year to around $280 at present. Last year, Changpeng Zhao, who was the "richest man in China", lost his fortune rapidly in this round of decline. According to the Bloomberg Billionaires Index, as of now, Changpeng Zhao's net worth is only US$34.1 billion (about 242.7 billion yuan), which has shrunk by more than 60% from his personal wealth of US$96 billion in January this year.