Binance estimates that blockchain hacking incident has led to $100 million stolen

Cryptocurrency exchange Binance announced late Thursday that the Binance Smart Chain blockchain network was hacked, potentially resulting in $100 million being stolen.

After detecting a vulnerability in the bridge between its two blockchains, Binance Smart Chain has suspended trading and fund transfers.

Binance CEO Changpeng Zhao posted on Twitter that the issue involves the cross-chain bridge BSC Token Hub. The cross-chain bridge allows the transfer of digital assets and information from one independent blockchain to another.

Changpeng Zhao wrote: This issue is now under control, and customer funds are safe. He apologized for the inconvenience caused.