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DeFi Hack: BSC-Based Platform pNetwork Loses $12.7M in BTC - Financial Markets Worldwide

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8c3937d6a805c13b705e3d5d49b26e19Cryptocurrency32 minutes ago (Sep 20, 2021 04:00AM ET)

© Reuters DeFi Hack: BSC-Based Platform pNetwork Loses $12.7M in BTC

  • pNetwork losses around $12.7 million in .
  • In case the funds were returned, hackers can take 11.5% of the stolen funds.
  • pNetwork team is still in discussion to reimburse affected users.

In the ever-growing crypto industry, we could spot many hacks going around. One of the recent hacks happened on pNetwork.

pNetwork, a cross-chain DeFi platform, the latest protocol which is targeted by an attacker on Binance Smart Chain (BSC). The attack reports a loss of around $12.7 million in BTC.

1/N We’re sorry to inform the community that an attacker was able to leverage a bug in our codebase and attack pBTC on BSC, stealing 277 BTC (most of its collateral).

The other bridges were not affected. All other funds in the pNetwork are safe.

— pNetwork (@pNetworkDeFi)

Continue reading on CoinQuora

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