BNB Chain Hack: 60 ETH inLiquidity Quickly Removed
Someone created BNB HACK INU to quickly remove 60 ETH worth of liquidity following the BNB Chain hack.
While it's still unclear exactly how the BNB Chain security breach occurred, what is certain is that it was a major event in the world of cryptocurrency. This breach underscores the need for stronger security measures for all blockchain networks, as well as the importance of keeping all digital assets safe.
While the process of freezing and recovering the stolen assets is ongoing and the network is back to its normal functioning, someone took the opportunity to pull off another scam. This is a reminder that even though the system may be secure, there are always people looking to take advantage of any situation. We must be vigilant and continue to work together to protect our assets and our community.
BNB HACK INU Token: Summary
The BNBHACKINU token is the latest in a long line of scams that have been used to steal crypto from innocent people. This token is a clear reference to both the recent BNB Chain hack and the popular dog-themed memecoins, and it is nothing more than a way for scammers to steal money from people. Do not fall for this scam, and do not send any money to anyone who is promoting this token.
The hacker who was responsible for the BNB Chain exploit created a token called BNBHACKERINU just two hours after the initial exploit, according to Twitter user lorem. Lorem detailed the event on Twitter, providing information on how the hacker was able to exploit the BNB Chain. This type of attack is concerning for the cryptocurrency community, as it highlights the potential vulnerabilities of popular blockchain platforms. It is important for users to be aware of the risks involved in using these platforms, and to take steps to protect their assets.
This is a very serious issue because it means that anyone who has access to the smart contract can mint an unlimited number of tokens and then transfer them to any other wallet. This could have major implications for the Binance Hackathon and the Binance Chain ecosystem as a whole.
At this point, I knew this was definitely a rug waiting to happen. The owner was constantly calling these methods and each time the stolen tokens were sent to a brand new wallet with 0 ETH. I only went through a few of the transactions but of the fresh wallets I looked at, there were over 7 million BNBHACKINU tokens across them all.
This is a clear case of rug pulling and token minting for personal gain. The owner minted 1 quadrillion tokens, which immediately destroyed the price. They then sold these tokens for a profit of 60 ETH. This is unacceptable behaviour and shows a lack of respect for the community.
There's a new token on the block, and it's called HACKERSHIBA. This token is designed to follow credentials and carry the HACKERSHIBA ticker. So what does this mean for the future of security?
Might Not Be the BNB Chain Hacker
ZachXBT makes a valid point that the real scammers here are the developers of the BNB Chain, not the person who simply exploited it. It's a shame that such a promising project has been so poorly-run, and it's clear that something needs to be done to fix the situation.
The exploiter didn’t create it. It’s literally just someone spoofing to make it look like the exploiter did. Happens after most major exploits. – He said.
Spoofing is a serious problem for cryptocurrency users, as it can lead to loss of funds or personal information. Hackers can use spoofing to trick users into thinking that a transaction is from a trusted source, when in reality it is not. This is a major issue for users of ERC-20 tokens, as the design of the ERC-20 standard makes it easy for hackers to exploit. Users of ERC-20 tokens should be aware of this problem and take steps to protect themselves.
The post BNB HACK INU: How Someone Stole 60 ETH Following the BNB Chain Hack appeared first on CryptoPotato. The situation is still unfolding, but it seems that someone has managed to steal 60 ETH from the Binance smart contract following the BNB chain hack.