Cyvers in the News

BNB Chain Hit by $80K Bitcoin Theft

A recent suspected exploit on the BNB Chain led to the theft of around $80,000 worth of Bitcoin (BTC) through several suspicious transactions. The identity of the token contract involved remains undisclosed, and speculation suggests that the perpetrator could be a white-hat hacker, ^{as noted by on-chain security firm Cyvers.}

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^{According to on-chain security firm Cyvers}, the exploited token contract remains unidentified, but the attacker’s actions suggest they might be a white hat hacker.

In a May 28 post on X, Cyvers noted that the attacker received funding through the cryptocurrency mixing service Tornado Cash, commonly used by malicious actors to hide the origin of their funds.

BNB Chain exploited for $80K of fake BTC tokens

While the exploited token contract is still unknown, the attacker could be a white hat hacker, or ethical hacker, who uses his skills to find security vulnerabilities, ^{according to on-chain security firm Cyvers. The firm wrote in a May 28 X post:}

“The total loss is approximately $80K. The attacker received funding via TornadoCash and has also interacted with the Binance exchange, indicating a possible white hat action.”

DeFi protocols Sonne Finance and ALEX Lab lose over $24 million in separate hacks

The crypto projects have offered their attackers a 10% bounty to return the stolen funds.

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Decentralized liquidity provider Sonne Finance fell victim to a $20 million exploit on its Optimism network-based USDC and Wrapped Ethereum (WETH) contracts ,^{according to blockchain security firm Cyvers}.