Crypto hacked again in $100 million theft of Binance-backed blockchain

An already bad year for cryptocurrencies took another turn for the worse after roughly $100 million of Binance Coin was stolen in what appears to be the latest hack to hit digital assets.

An exploit occurred on a bridge between blockchains and the issue is “contained now,” Changpeng “CZ” Zhao, billionaire co-founder of Binance, the world’s biggest crypto exchange, said on Twitter on Friday.

A spokesperson for Binance-backed blockchain BNB Chain estimated the incident involved $100 million to $110 million of digital tokens. At least $7 million of stolen funds has already been frozen, the spokesperson added. The bridge, BSC Token Hub, has been suspended.