Severe Vulnerability Identified and Fixed in The BNB Smart Chain
10 Februar 2023 - 10:55AM
NEWSBTC
Changpeng “CZ” Zhao, the CEO of Binance,
has revealed that a severe vulnerability was identified
and fixed by the BNB Core team early this week. Severe
Vulnerability Fixed In The BNB Chain In a tweet on February 9, the
CEO extended his thanks to the security team behind Jump Capital.
Jump Crypto, on their homepage, describes themselves as a group of
developers, investors, and traders who are “building the future of
web3.” Related Reading: Binance Teams Up With Hong Kong Police To
Fight Crypto Crime However, according to some, the Jump Crypto
security team identified a defect that would have enabled hackers
to infinitely mint BNB. BNB is the governance token of the Binance
ecosystem. It is critical in the BNB Smart Chain (BSC), the smart
contracting layer, and the BNB Beacon Chain. According to the
Binance Chain team, the Jump Crypto team identified the flaw. They
then worked with the BNB Core team toward “responsible disclosure
and resolution” of the bug. The Chief Scientist of the BNB Chain
thanked the team for handling the bug professionally. 2 days ago,
@jump_ reported a severe vulnerability and worked with BNB Core
team to fix it within hours. I am amazed by their selflessness and
top-notch security team. Really appreciate the professional
handling and I am glad to be involved in such a community! — V
(@v_bnbchain) February 9, 2023 Sandeep Nailwal also
took note and said the Jump Crypto team has been active
in the technical development front, actively building various
solutions. A noteworthy move, he said, is their active involvement
in building the zero knowledge-based cross-chain bridging to
layer-1 clients. However, neither the Binance team nor the Jump
Crypto team has revealed what the bug was. The Binance Bug Bounty
Program Still, it is not immediately clear whether Jump Crypto was
compensated by Binance’s bug bounty program. Presently, Binance
pays out a maximum reward of $100,000 for finding bugs. Every
submitted bug, Binance claims, can be validated within a day. Also,
for each identified bug, the team can pay the white hacker between
$200 and $10,000. However, the total reward can accumulate to
$100,000. White hackers are free to scour through Binance’s
ecosystem code, covering the code behind BSC and others, searching
for flaws that can be compensated, listed under Binance’s
scope. As of February 10, Binance said it had rewarded 300
vulnerabilities. There were 2,454 programmers under the Binance bug
bounty program. Related Reading: Why The Shiba Inu Community
Is Signing A Petition For Binance To List BONE Last year, the BNB
Chain Bridge, called the “BSC Token Hub,” was hacked for
two million BNB, at that time, worth over $500 million.
Hackers exploited the cross-chain bridge connecting the BNB Beacon
Chain and the BNB Smart Chain after they forged messages, allowing
them to mint new coins. Because the tokens minted never existed
before, there was no impact on other users’ assets. Hackers
eventually managed to steal $110 million after the majority of
coins were frozen. Feature image from Flickr, Chart from
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