Binance CEO Talks About Hack: “BNB Stands Strong!”

The world’s largest cryptocurrency exchange BinanceThe hacking incident in the BSC network of ‘s fell on the agenda like a bomb last night.

Confirming the hack, the Binance team and Binance CEO CZ made statements about the hack and said that the BSC network was temporarily stopped.

CZ’s post “There has been an exploit on the BSC Token Hub, which is a cross-chain bridge. We have asked all validators to temporarily suspend the BSC. The problem is now under control. Your money is safe. We apologize for the inconvenience and will make further updates accordingly.” said.

The temporarily suspended BSC network is reopened today.

Participating in CNBC’s Squawk Box program after the hacking incident, CZ answered questions about the incident.

“We need to learn how to learn from these hacks and how to make our network and code more secure. Because software code is never error-free.

While the extent of the hack was large, we were able to minimize most of the damage.”

Binance’s token Binance Coin (BNB) Commenting on the subject, CZ continued his words as follows:

“We see that the BNB price has dropped by less than 5% even with such an attack last night.

This shows the trust of the community and that BNB is extremely strong.”

After the hacking event yesterday, it has experienced a decrease of 3.60% in the last 24 hours. BNBIt is trading at $283 at the time of writing.

“We can see that even with such a hack that happened overnight the $BNB price dropped less than 5%. That shows the confidence of the community— is extremely strong,” says @cz_binance pic.twitter.com/AgwS854Quo

— Squawk Box (@SquawkCNBC) October 7, 2022