In total, hackers were able to drain 2 million BNB tokens — about $570 million at current prices — from the network, Binance’s BNB Chain said in a blog post on Friday.
The exploit was enabled “through a sophisticated forging of the low level proof into one common library,” BNB Chain said.
An earlier estimate from the firm placed the total amount withdrawn in a range of $100 million to $110 million.
Binance said it managed to freeze $7 million of funds with the help of its security partners..
The value of BNB plummeted more than 3% Friday morning to $285.36 a coin, according to CoinMarketCap data.
BNB Chain, originally known as Binance Chain, was first developed by Binance in 2019. Like other blockchains, it features a native token, called BNB, that can be traded or used in games and other applications.
The hack isn’t the only one, a total of around $1.4 billion has been lost to breaches on cross-chain bridges since the start of 2022, according to data from blockchain analytics firm Chainalysis.
