2024

Bitcoin

Gala

A recent suspected exploit on the BNB Chain led to the theft of around $80,000 worth of Bitcoin (BTC) through several suspicious transactions. The identity of the token contract involved remains undisclosed, and speculation suggests that the perpetrator could be a white-hat hacker, as noted by on-chain security firm Cyvers.&nbsp; 
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 🚨ALERT🚨Our system has detected multiple suspicious transactions involving <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> token on <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BNB</a> chain! The total loss is approximately $80K. The attacker received funding via <a href="https://twitter.com/TornadoCash?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@TornadoCash</a> and has also interacted with the <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@binance</a> exchange, indicating a possible whitehat action.… <a href="https://t.co/SjhpGMW126" target="_blank">pic.twitter.com/SjhpGMW126</a>— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1795375464107614485?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 28, 2024</a>
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According to on-chain security firm Cyvers, the exploited token contract remains unidentified, but the attacker’s actions suggest they might be a white hat hacker. 
In a May 28 post on X, Cyvers noted that the attacker received funding through the cryptocurrency mixing service Tornado Cash, commonly used by malicious actors to hide the origin of their funds. 
However, the attacker also interacted with Binance, the world’s largest centralized exchange, which requires users to complete a Know Your Customer (KYC) verification process. This interaction with Binance has led some to believe the attacker may not have malicious intentions, as sophisticated hackers typically avoid centralized exchanges to maintain their anonymity and avoid getting caught. 
This small theft contrasts with larger cryptocurrency exploits, coming shortly after a major $23 million theft from Gala Games. In that case, nearly the entire amount was returned following an intervention that froze the hacker’s wallet, as confirmed by Gala Games CEO Eric Schiermeyer. 
Furthermore, another <a href="https://www.cryptotimes.io/2024/05/12/match-sytems-recover-68m-from-hackers/">recovery operation by Match Systems</a> successfully retrieved $68 million in stolen cryptocurrencies. These recent incidents highlight the evolving landscape of digital asset security, which continues to challenge and shape responses to these threats. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also&nbsp;Read: <a href="https://www.cryptotimes.io/2024/05/25/jian-wen-sentenced-for-laundering-10-4m-in-bitcoin/">British-Chinese Woman Jailed for Laundering $10.4M in BTC </a> 
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BNB Chain Hit by $80K Bitcoin Theft

The Crypto Times

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