Binance hacked, they steal 585 million euros in tokens

The Binance hack comes at the worst time. A new blow against the credibility of the crypto market. So far this year they have stolen more than 2,000 million euros, most of it destined for North Korea.

The biggest cryptocurrency exchange platform of the world, Binance, has been hacked. The robbery amounts to €585 millionmost of them the platform’s own token, BinanceCoin either BNB.

The encryption of cryptocurrencies and blockchain either block chains is nearly impregnable (at least until quantum computers are standardized), so cybercriminals focus their efforts on hack the “bridges” that link the different blockchainsnecessary to be able to carry out cryptocurrency exchanges.

This is what has happened with the binance hack. according to account Business Insiderthe CEO of the company, Changpeng Zhao, has confirmed that the theft occurred in BNB Chainthe Binance blockchain, born from the sum of BinanceChain Y Binance SmartChain. The hack was aimed BSC TokenHub, a bridge between these two two Binance systems.

Binance hack amounts to 585 million euros

At first it was announced that cybercriminals had stolen tokens worth more than 100 million euros. But according to ArsTechnicaBinance has acknowledged that they have also stolen 2 million of his own crypto, BNB. At $284 each token, the total adds up to almost 600 million euros.

Binance has reported that everything is already controlled. The blockchain works securely and customer assets are safe.

So far in 2022, there have already been hacks associated with cryptocurrencies worth 2,000 million euros. According to investigations, most of these thefts have ended up in North Korea.

Apparently cryptocurrency hacking is one of the main sources of financing for the Kim Jong-un regime. Financing that has suffered a severe setback, with the loss of value of the crypto markets.

The bitcoin it fell again today below 20,000 eurosand the same has happened with the ethereum.

The binance hack It comes at the worst time for the credibility of crypto, which has lost 60% of its value so far this year. the continuous token thefts like these BinanceCoin is one of his main criticisms, and Binance is the oldest cryptocurrency exchange platform of the world.