White-hat hacker explained how Binance Bridge attacker managed to pull off the massive hack

By Selena On Oct 7, 2022

As AZCoin News reported, attackers allegedly stole 2 million BNB tokens (about $566 million) from the Binance Bridge. On Twitter, Paradigm researcher @samczsun said that he originally believed Venus Protocol had been hacked. However, it was eventually revealed that the attacker had placed $200 million into the protocol.

Here’s How Binance Bridge Attacker Pulled Off $566 Million Hack

According to the findings, the attacker responsible for the major hack persuaded the Binance Bridge to transmit them a million BNB tokens on two consecutive occasions. The hacker was able to create evidence for block 110217401. The investigation discovered a flaw in how the corrupted Binance Bridge validated proofs. Attackers took use of the vulnerability to fake arbitrary messages.

It all started when @zachxbt sent me the attacker’s address out of the blue. When I clicked into it, I saw an account worth hundreds of millions of dollars. Either someone had pulled off a huge rug, or there was a massive hack underway pic.twitter.com/OipdKymjFL

— samczsun (@samczsun) October 6, 2022

Paradigm, one of the most prominent crypto VC firms, hired samczsun as its research partner in October 2020.

According to the respected white-hack hacker, the harm might have been far worse. However, the attacker was only successful in forging two mails. According to U.Today, Binance CEO Changpeng Zhao requested that validators temporarily halt BSC. He also stated that the problem had been resolved. Binance estimates that up to $80 million in stolen money were moved off-chain. At the time of publication, a part of these funds had already been frozen. BSC validators are now cooperating to restore the chain.

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