A recent security report notes that Boy X Highspeed (BXH), a decentralized finance platform (DeFi), suffered a massive cyberattack that led to the theft of more than $130 million USD in cryptocurrency. This is a project based on Binance Smart Chain (BSC), launched as a trusted alternative but has become the target of attacks against DeFi protocols.

After detecting the heist, BHX suspended withdrawals and deposit services on its platform, plus it tried to reassure its clients by mentioning that virtual assets held on HECO, Ethereum and OEC are completely secure.

The platform’s security teams also shared the cryptocurrency addresses to which the stolen assets would have been transferred, in addition to requesting the exchange platforms to create a blacklist for tracking the activity of these addresses.

Poly Network appears to have responded favorably to the exchange platform’s request: “To prevent further transfers, Poly Network will suspend cross-chain services related to stolen assets at BSC without affecting other blockchain implementations.” It should be remembered that a few weeks ago this blockchain network also suffered a massive attack, which led to the theft of hundreds of millions of dollars in cryptocurrency that were eventually returned by the attackers.

Separately, BXH announced that a reward of up to $10 million USD is being offered to anyone who provides information about the attackers: “Any third-party organization, individuals, law enforcement and security companies that have contributed to asset recovery can share the reward,” said a statement from the network, published on Twitter.

As mentioned above, this is just the latest example of attacks against DeFi projects during the most recent months. The most recent attacks involve the cream finance lending protocol, which suffered the loss of $130 million USD in all kinds of virtual assets, while the developers of AutoShark Finance lost about $2 million USD.

To learn more about information security risks, malware variants, vulnerabilities and information technologies, feel free to access the International Institute of Cyber Security (IICS) websites.

The post Hackers stole USD 139 million from BHX exchange and anybody who can help find hackers can earn $10 million USD appeared first on Information Security Newspaper | Hacking News.

source

You May Also Like

Remote code execution attack at Stem smart speakers allows eavesdropping on users’ conversations

The increase in the use of technological implementations such as smart speakers,…

8 critical vulnerabilities in GitLab would allow hackers to install backdoors in your code

In its most recent security release, GitLab announced the launching of GitLab…

Newly discovered TCP reflective amplified DDoS attack can shut down any website

Cybersecurity specialists reported the discovery of a severe flaw in the design…