Crypto exchange Binance said late Thursday that $100 million was likely stolen as a result of a hack on its Binance Smart Chain blockchain network. Binance Smart Chain temporarily suspended transactions and fund transfers, after detecting what it said was an exploit on a bridge between two blockchains.
A spokesman for Binance said initial estimates for funds taken off the Binance Smart Chain are between $100 million and $110 million. Binance Coin fell 3.4% from its level 24 hours prior to $284.56, according to CoinDesk data. Cross-chain bridge hacks have become a common occurrence. In August, attackers drained $190 million worth of crypto from cross-chain bridge Nomad after a hacker exploited a vulnerability in an upgrade to the platform. So far this year, about $2 billion in cryptocurrency has been stolen in cross-chain bridge hacks, according to blockchain data firm Chainalysis.