Token

Balance Coin

Million

B² Network appears to have suffered a token drain involving 8.59 million B2, valued at approximately $3.86 million before the stolen assets were sold on BNB Chain.
<a href="https://x.com/lookonchain/status/2080115692406444511" rel="noopener noreferrer nofollow">Lookonchain traced the transactions</a> after the tokens reached an attacker-controlled address. The full amount was exchanged for 5,409 BNB worth about $3.01 million, implying roughly $850,000 in slippage and price impact during the sale.
The transaction produced an average sale value near $0.35 per B2, below the token’s price of approximately $0.45 when the assets were first identified. B2 traded near $0.45 on Thursday following the transfers.
The drained amount represents about 4.1% of B2’s capped 210 million-token supply. B2 is used for governance, staking and activity across B² Network, a Bitcoin Layer-2 ecosystem with applications spanning <a href="https://cryptoadventure.com/the-ultimate-beginners-guide-to-decentralized-finance-or-defi/" rel="noopener noreferrer nofollow">decentralized finance</a>, <a href="https://cryptoadventure.com/beginners-guide-cryptocurrency-mining/" rel="noopener noreferrer nofollow">mining</a> and artificial intelligence.
<h2 id="funds-move-from-bnb-chain-to-ethereum">Funds Move From BNB Chain To Ethereum</h2>
The attacker bridged the BNB proceeds to Ethereum and converted them into ETH and USDT. The assets were subsequently deposited into NEAR Intents and HOT Protocol, two cross-chain services that can route funds across multiple networks and assets.
The use of those services makes the latest balances harder to follow through a single wallet but does not establish that either platform was compromised. The transaction path began with the B2 transfer and sale before the proceeds entered their cross-chain infrastructure.
No incident notice, affected contract, recovery plan or user instructions had appeared on B² Network’s <a href="https://t.me/s/bsquared_network" rel="noopener noreferrer nofollow">public announcement channel</a> at publication. The project had also not identified whether the tokens came from a bridge, treasury, staking contract or compromised wallet.
Without a technical review from B² Network or an independent security firm, the authorization path behind the 8.59 million-token transfer remains unconfirmed.
<h2 id="token-drain-follows-week-of-bridge-exploits">Token Drain Follows Week Of Bridge Exploits</h2>
The B² transfers came after an attacker withdrew <a href="https://cryptoadventure.com/afx-trade-bridge-drained-of-24-15-million-in-usdc-on-arbitrum/" rel="noopener noreferrer nofollow">$24.15 million in USDC from AFX Trade’s Arbitrum bridge</a> using approvals associated with five hot validators. The funds were bridged to Ethereum and converted into 12,467 ETH.
Wanchain also disabled its Cardano-BNB Chain bridge after <a href="https://cryptoadventure.com/wanchain-cardano-bridge-loses-515m-night-as-signature-flaw-is-investigated/" rel="noopener noreferrer nofollow">515 million NIGHT left its treasury</a> through transactions tied to a suspected signature-reuse vulnerability.
A separate <a href="https://cryptoadventure.com/balance-coin-collapses-99-after-915000-42dao-oracle-exploit/" rel="noopener noreferrer nofollow">$915,000 oracle exploit at 42DAO</a> pushed Balance Coin more than 99% below its dollar target after manipulated BTCB pricing triggered vault liquidations and undercollateralized token issuance.
The post <a href="https://cryptoadventure.com/b%c2%b2-network-faces-3-86-million-token-drain-as-attacker-sells-8-59m-b2/" rel="noopener noreferrer nofollow">B² Network Faces $3.86 Million Token Drain As Attacker Sells 8.59M B2</a> appeared first on <a href="https://cryptoadventure.com" rel="noopener noreferrer nofollow">Crypto Adventure</a>.

B² Network Faces $3.86 Million Token Drain As Attacker Sells 8.59M B2

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