Hacker Steals $225,000 from BNB Chain Contract

02/27/2023 07:44 • AI & Tech Insights • 122 views

It is reported that according to PeckShield monitoring, the hacker made a profit of about $225000 on the last unverified contract of BNB Chain (0x6D8981847Eb3cc2234179d0F0e72F6b6b2421a01). At present, hackers have stolen about 225000 DAIs and a small amount of Ethereum via Multichain to Ethereum and finally transferred to RAILGUN.

PeckShield: BNB Chain’s last unverified contract was attacked, and hackers made more than 220000 dollars

Interpretation of the news:

According to reports from PeckShield monitoring, a hacker has made a substantial profit of about $225,000 on the last unverified contract of BNB Chain. The hacker has stolen approximately 225,000 DAIs and a small amount of Ethereum via Multichain and eventually transferred it to RAILGUN. This news has sent shockwaves throughout the cryptocurrency community, as it once again highlights the vulnerabilities of unverified contracts.

This incident serves as a reminder to all users that the decentralized nature of blockchain technology does not guarantee absolute security. In fact, as more and more people get involved in this field and the value of cryptocurrencies increases, hackers are finding ever more inventive ways to steal funds. In this particular case, the hacker was able to exploit the loopholes of an unverified contract on BNB Chain, which allowed them to steal such a significant sum of money.

It is essential to note that the incident only affected the BNB Chain network, and not the Binance centralized exchange that runs on the same chain. However, as more decentralized applications (dApps) continue to pop up, it is necessary to pay attention and exercise extreme caution when interacting with them.

Furthermore, this particular hack highlights the significance of well-established security protocols and measures, especially for smaller and less established networks. For instance, it is imperative that developers subject their smart contracts to rigorous testing and verification processes to limit vulnerabilities that hackers can exploit.

In conclusion, the rise of blockchain technology will undoubtedly bring about immense progress and innovation in various sectors of society. However, the security of these systems remains a significant concern, and it is essential to prioritize its enhancement through robust and effective measures. In the end, the security of the network is of utmost importance if blockchain is ever to be adopted on a more significant scale.

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Hacker Steals $225,000 from BNB Chain Contract

PeckShield: BNB Chain’s last unverified contract was attacked, and hackers made more than 220000 dollars

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