BNB Chain responds with next steps for cross-chain security after network mining

The BNB Channel team released its official statement on October 7 regarding the hack and stolen funds, and a second statement on October 11 October on the decentralization network.

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BNB Chain, the native blockchain of Binance Coin (BNB) and crypto exchange Binance, has undergone security-related developments over the past month.

On Thursday, October 6, the network suffered a multi-million dollar cross-chain exploit. The incident caused BNB Chain to temporarily suspend all withdrawal and deposit activity on the network.

Initially, the network outage announcement mentioned "irregular activity" with an update that it was "under maintenance". As the rumors were confirmed, Binance CEO Changpeng Zhao tweeted an apology for any inconvenience caused to the BNB Chain community.

However, the suspension was brief, as the BNB team announced that the network was back online early on October 7, just hours after the attack. As the network resumed activity, its validators confirmed their location and were asked to upgrade the community infrastructure.

Later the same day, BNB Chain released its first official statement thanking the community for their support during the incident, as well as next steps to ensure the future security of the network.

UPDATE: Official response from BNB channel.

We are humbled by the support, hard work and dedication of the community we are proud to be part of.https://t.co/r0TcZYxFzJ

– BNB Chain (@BNBCHAIN)