It’s happened again! BSC-based DeFi protocol BXH attacked and $139 million stolen

  • BXH Blockchain, a project built on Binance Smart Chain, has been attacked and $139 million worth of cryptocurrencies were stolen.
  • The project has called on centralized and decentralized exchanges to freeze the hackers’ BSC, ETH and BTC addresses and called for the hackers to return the funds.

Yet another decentralized finance protocol on the Binance Smart Chain has suffered a hack and millions of dollars have been stolen. This time, its BXH, a DeFi eco-platform that provided its users with an artificial intelligence-powered yield farming aggregator. According to one report, close to $140 million was stolen, even as BXH calls on the hackers to return the funds.

DeFi protocols built on the Binance Smart Chain have proven to be vulnerable to attacks, with the team behind BSC at one time claiming the attacks are targeted to discredit the blockchain. Pancakebunny, Spartan Protocol, Burgerswap, Meerkat Finance and Uranium Finance are just a few of the projects that have fallen victim to multi-million dollar hacks.

BXH has now joined this list.

The team behind the project revealed the hack today, stating:

We are sorry to announce that BXH was attacked on Binance Smart Chain (BSC). Assets on HECO, OEC and Ethereum are safe, but we have suspended the deposit and withdrawal service for security reasons.

BXH listed the addresses they claim the hackers transferred the stolen assets on BSC, Bitcoin and Ethereum blockchains. According to block explorers, the BSC address holds $8.1 million in BNB tokens and $92.5 million in other BSC tokens.

On Ethereum, the hackers’ address holds $1,000 in ETH  and $17.2 million in other ERC-20 tokens, with most of this being Wrapped Ethereum.

The BTC address holds 198.1 BTC, worth $12.4 million at press time.

“Please return our money”

BXH has called on the cryptocurrency industry to assist it to recover its money by blacklisting the hackers’ addresses.

We need CEX and DeFi providers to blacklist and freeze these addresses. We are cooperating with BSC Security and security partner Peckshield to follow up and trace.

Poly Network, a cross-chain DeFi platform, empathized with BXH on Twitter. “In order to avoid further transfer, Poly Network will suspend cross-chain services related to stolen assets on BSC, and other chains will not be affected,” it claimed.

Poly Network itself was the victim of a $600 million exploit, the biggest on record in the DeFi industry. In what was a curious strategy by the Poly Network team, it asked the hacker to “please return our funds.”

And it worked. The hacker returned the funds, first $260 million and the rest later. Poly Network ended up even giving the hacker a job as a chief security advisor.

Read More: Poly Network hacker offered a job as “Chief Security Adviser”

BXH is borrowing a leaf from Poly Network. On its announcement, the project wrote:

To the exploiters, please return the funds immediately and we will recognize your action as white hat and offer bonus.

Will the hackers heed the polite call to give back the money and follow the Poly Network route? Only time will tell.

About Author

Steve has been a blockchain writer for four years, and a crypto enthusiast for even longer. He is most excited by the application of blockchain to solve the challenges facing developing nations.

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