Binance Releases Urgent Patch For BNB Smart Chain After Hack

Binance builders launched the non permanent pressing patch v1.1.16 for BNB Smart Chain nodes on Tuesday. The patch fixes the cross-chain infrastructure between Beacon Chain and Smart Chain. The cross-chain communication between each chains was disabled after the $100 million cross-chain bridge BSC Token Hub exploit.

Binance Releases Patch to Re-Enable BNB Cross-Chain Services

Binance builders in a tweet on October 11 publicizes the v1.1.16 non permanent pressing patch to mitigate the cross-chain infrastructure between the BNB Beacon Chain and BNB Smart Chain. The launch will re-enable cross-chain communication.

Moreover, the v1.1.16 release is a tough fork for each the testnet and the mainnet. The Moran laborious fork improve for the mainnet is to occur at block peak 22,107,423 on October 12 at round 8 AM UTC. Similarly, the laborious fork improve for the testnet is to occur at block peak 23,603,940 on October 11 at 8 AM UTC.

The improve will repair vulnerabilities within the IAVL hash test, introduce a block header in sequence test in CrossChain Contract, and make relayer whitelisted to the genesis.

Therefore, validators must test and improve with the v1.1.16 launch instantly. This is an emergency patch to repair the difficulty and potential dangers on BNB Chain. Also, white-hat feedback on the discharge are most welcome. Binance will announce additional enhancements by means of wider dialogue and governance.

BNB Price Fails to Recover

BNB Price fell over 5% after the cross-chain bridge BSC Token Hub exploit on October 7. However, the BNB worth fails to get well and fell over 8% since then. At the time of writing, the value is down over 2% within the final 24 hours and buying and selling at $270.

The builders have confirmed that customers will obtain their funds as soon as the improve is accomplished. Also, the staking rewards ought to get well the subsequent day.

The quick response from BSC validators prevented a $570 million BNB exploit. The 2 million BNB tokens created by hackers have been blocked by validators. Currently, Binance is working with regulation enforcement to trace hackers.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his data about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency business for a considerable interval and is presently protecting all the newest updates and developments within the crypto business.

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