#BinanceSafetyInsights Binance Confirms $570M Hack Targeting Its Cross-Chain Bridge**

In a major security breach, Binance—the world’s largest crypto exchange—revealed Friday that hackers exploited a vulnerability in its blockchain bridge, siphoning $570 million from the Binance Smart Chain (BSC) network.

**Key Details:**

• **DeFi Weakness Exposed**: The attack highlighted risks in cross-chain bridges, which enable asset transfers between networks.

• **CZ’s Statement**: CEO Changpeng Zhao told CNBC, *“No code is 100% bug-free,”* noting that bridges remain prime targets for exploits. He assured users that no customer funds were lost.

• **Binance’s Response**: The BSC team pledged full transparency, promising a public post-mortem and upgraded security measures.

**Why It Matters:**

This marks the latest in a string of bridge attacks, raising urgent questions about DeFi’s security infrastructure.