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BNB hacker lost more than $53M after being liquidated during market crash

The sudden pullback in the crypto market has liquidated many traders and, according to data shown on the blockchain, the attackers responsible for the notorious BNB Smart Chain exploit are also: which led to the theft of approximately $600 million worth of BNB tokens (BNB).

On October 6, the BNB Smart Chain cross-chain bridge was suspended due to a vulnerability that allowed hackers to steal. 2 million BNB tokensduring the theft They were valued at an estimated $568 million.

on August 18 second blockchain security company PeckShieldcollateral of a crypto wallet linked to the exploit was liquidated, dand is valued at more than $53 millionon the crypto lending platform Venus Protocol. The hacker would use tokens as collateral. 30 million Tether credits (USDT).

Trade showing that the BNB abuser has been liquidated. Source: PeckShield

On August 18, the entire crypto market experienced a 6% drop.brings the total capitalization to 1.1 trillion dollars. Second CoinGlass has wiped out over $1 billion in crypto assets in the last 24 hours of the event.

BNB Smart chain hackers were also affected, As BNB price drops below $220. According to blockchain data, three positions linked to the wallet were automatically liquidated after the price drop. Right now, BNB is trading at $218 per token.

While many suffered from the massive market downturn, some managed to minimize the damage. A few days before the crash, a crypto whale sold 22,341 Ether (ETH), worth approximately $41 millionAvoiding a potential loss of more than $5 million. Nevertheless, however, the crypto trader lost about $1.7 million in the deal.

Translation of Matteo Carrone

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