Binance confirmed a $570 million exploit targeting a blockchain it operates—one that bridges assets across networks. The breach hit Binance Smart Chain, exposing serious flaws in cross-chain bridge security, a known weak point in DeFi where code controls value.
🔆 CEO CZ told CNBC, “Software code is never bug free,” and while no users lost funds this time, he warned that cross-chain bridges are high-risk zones the industry still needs to master.
🔆 Binance Smart Chain acknowledged the issue in a blog post, apologizing to users and promising transparency. A full postmortem and upgraded security measures are underway.
Cross-chain bridges are essential—but they’re also the soft spots. The lesson? DeFi needs smarter armor, not just bigger bridges.