KEY POINTS
  • Binance said a cross-chain bridge linking with its BNB Chain was targeted, enabling hackers to move BNB tokens off the network.
  • In total, hackers withdrew 2 million BNB tokens — about $570 million at current prices — from BNB Chain said in a blog post on Friday.
  • An earlier estimate from the company placed the total amount withdrawn in a range of $100 million to $110 million.
  • The value of BNB sank more than 3% Friday morning to $285.36 a coin, according to CoinMarketCap data.

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Cryptocurrency exchange Binance temporarily suspended its blockchain network after hackers made off with around $570 million worth of its BNB token.

Binance said late Thursday a cross-chain bridge linking with its BNB Chain was targeted, enabling hackers to move BNB tokens off the network. So-called cross-chain bridges are tools that allow the transfer of tokens from one blockchain to another.

In this article