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

Table of Contents

Crypto Adventure

Other articles published on Jul 23, 2026

What is BlackRock's BUIDL Fund on Avalanche AVAX?

Which Crypto Companies and Protocols Make The Most Money?

REAL Joins Blockchain for Europe to Shape EU Tokenisation Rules

Insights from CoinGecko's Q2 Crypto Report

Will Robinhood Chain Push ETH's Price to All Time Highs?

Grayscale Picks Its Most Promising Tokenization Blockchains

Join our free newsletter for daily crypto updates!