- BNB Smart Chain gets restored after a short suspension.
- Earlier, the BNB team informed about a $110 million hack on their cross-chain.
- BNB holders can now rely on BSC v1.1.15 hardfork for further transactions.
In an official Twitter post, Binance-backed BNB Chain informed that its BNB Smart Chain (BSC) has been working well after the recent temporary pause due to irregular activity on it.
BNB Smart Chain (BSC) is running ok from 20+ mins ago.The validators are confirming their status and the community infrastructure are upgrading as well.— BNB Chain (@BNBCHAIN) October 7, 2022
Earlier today, the BNB Chain team tweeted that due to irregular activity they were temporarily pausing BSC.
Due to irregular activity we're temporarily pausing BSC. We apologize for the inconvenience and will provide further updates here. Thank you for your patience and understanding.— BNB Chain (@BNBCHAIN) October 6, 2022
In detail, there were speculations that over $700 million in BNB tokens were reportedly stolen from the cross-chain bridge. Earlier, the BSC team alerted on Reddit that initial estimates for funds “taken off BSC are between $100M-$110M.”
Additionally, Binance CEO Changpeng Zhao had tweeted about the issue saying:
An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.
The BSC validators had been coordinating to restore the BNB Smart Chain since the temporary cease, and the team released its hot fix hardfork BSC v1.1.15 on GitHub. The official release read that several blacklisted addresses are prohibited for further transactions due to the exploit. Therefore, the team requested all the clients to upgrade to BSC v1.1.15.
Additionally, before the current working mode, all the cross-chain transfers were stopped and transactions were requested to be done using central exchanges. The BNB team also asked the users to upgrade to the new version by downloading binary on the release page and stopping the running nodes.
Also, users have to replace their old binary with the new one and restart the node with the new binary.
At press time, BNB was trading at $284.4 and is over 3.5% down in the past 24 hours.
The post Binance’s BNB Smart Chain Works Perfect After Temporary Suspension appeared first on Coin Edition.