--- title: "Hackers Steal Over Half a Billion Dollars From World’s Largest Crypto Exchange" description: "Binance, the world's largest crypto exchange in trading volume, has been hacked yet again — but this time, the losses are truly staggering." date: "2022-10-08" modified: "2022-10-08" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/hackers-steal-binance" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "binance" - "blockchain" - "cryptocurrencies" - "cryptocurrency exchanges" - "the digest" --- # Hackers Steal Over Half a Billion Dollars From World’s Largest Crypto Exchange ![Binance, the world's largest crypto exchange in trading volume, has been hacked yet again — but this time, the losses are truly staggering.]() *\Image: Getty Images\* ## Another Hack Binance, the world's largest crypto exchange in trading volume, [has been hacked]() yet again — and this time, the losses are genuinely staggering. Hackers got away with around $570 million worth of the exchange's own BNB token, [*CNBC* reports](). "The issue is contained now," Binance CEO Changpeng Zhao [tweeted]() late on Thursday. "We apologize for the inconvenience and will provide further updates accordingly." ## Bridge Troll The vulnerability was seemingly a bridge allowing customers to move their BNB holdings to other blockchains. The BNB chain is made up of both the BNB Beacon Chain and BNB Smart Chain. "An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB," Zhao wrote in his [tweet](). "We have asked all validators to temporarily suspend BSC." Hackers got away with two million BNB tokens, collectively worth around $570 million at the time of writing. It's the latest in a string of hacks targeting cross-chain bridges. Earlier this year, [hackers looted a bridge]() called Nomad in what experts called a "frenzied free for all," getting away with $190 million. According to an August report by blockchain analytics firm Chainalysis, hackers had at that point [gotten away with $1.4 billion]() in 2022 alone. Needless to say, none of this bodes well, especially considering the industry has had an [absolutely rotten year]() so far. **READ MORE:** *[$570 million worth of Binance’s BNB token stolen in another major crypto hack]()* *\[CNBC\]* **More on Binance:** *[Binance Guy Says the Crypto Crash is Good, Actually]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()