CryptoMediaClub
Saturday, July 5, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

BNB hacker loses over $53M after getting liquidated in market crash

18.08.2023
A A
0
125
VIEWS
ShareShare

The sudden market pullback in the crypto space liquidated many traders and, according to data shown on the blockchain, the attackers responsible for the infamous BNB Smart Chain exploit, which led to the theft of almost $600 million worth of BNB (BNB) tokens.

On Oct. 6, the cross-chain bridge by blockchain network BNB Smart Chain was suspended because of an exploit that allowed the hackers to make off with 2 million BNB tokens, which were worth around $568 million at the time of the theft.

On Aug. 18, a crypto wallet linked to the exploit had its collateral, worth more than $53 million, liquidated on the crypto lending platform Venus Protocol, according to blockchain security firm PeckShield. The hacker apparently used the tokens as collateral for a $30 million Tether (USDT) loan on the protocol.

Transaction showing that the BNB exploiter was liquidated. Source: PeckShield

On Aug. 18, the entire crypto market suffered a 6% drop, sending the overall market capitalization to $1.1 trillion, according to coin information sites. The event wiped out over $1 billion in crypto positions in the last 24 hours according to market data tracker Coinglass.

The BNB chain hackers were also affected as the price of BNB dropped below $220. According to blockchain data, three positions linked to the wallet were automatically liquidated after the price fell. At the moment, BNB trades at $218 per token.

Related: Liquid staking claims top spot in DeFi: Binance report

While many suffered losses as a result of the massive drop in the market, some were able to minimize the damage. Days before the crash, a crypto whale sold 22,341 Ether (ETH), worth around $41 million, and avoided a potential loss of over $5 million in value. Despite this, the crypto trader still lost around $1.7 million in the trade.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: Should we ban ransomware payments? It’s an attractive but dangerous idea

Share10Tweet6ShareSharePin2

Related Posts

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift
Blockchain

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift

04.07.2025
0

Skip to content

Read moreDetails
Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

03.07.2025
Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

03.07.2025
Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

30.06.2025
Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

25.06.2025
Load More
Next Post
Bitcoin, Ether price slump leads to crypto bloodbath with $1B in liquidations

Bitcoin, Ether price slump leads to crypto bloodbath with $1B in liquidations

1 1 vote
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Warning Prevails: Crypto Concern & Greed Index Creeps to twenty, Nonetheless in Excessive Concern Territory

Warning Prevails: Crypto Concern & Greed Index Creeps to twenty, Nonetheless in Excessive Concern Territory

4 months ago
Scaling and Standardization Solution for ZKP Apps Developed

Scaling and Standardization Solution for ZKP Apps Developed

1 year ago
Top Crypto VCs Remain Active Despite Market Downturn, Warns Messari CEO

Top Crypto VCs Remain Active Despite Market Downturn, Warns Messari CEO

2 years ago
TON Surges 12% as Binance Opens Deposits Ahead of Trading

TON Surges 12% as Binance Opens Deposits Ahead of Trading

11 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Solana Price Prediction – Institutional Investor Includes Solana in $100 Million Strategic Fund: Is Wall Street Warming Up to SOL?

Macro Meets Crypto: Predicting Prices with CPI, Fed Rates & BTC Dominance

Dormant Bitcoin holder moves $2 billion BTC from 2011 for potential 14,000,000% gain

Early Bitcoin Buyer Turns $7,800 into $1 Billion – Here’s What Happened

Why a handful of altcoins are surging over 30% as Bitcoin trends sideways

Bitcoin Price Prediction – Senator Lummis Pushes Tax-Free BTC Spending Bill: Is This the First Step Toward Mass Adoption?

Trending

Google’s Gemini AI Predicts the Price of XRP, Solana and Cardano by the End of 2025
All news

Google’s Gemini AI Predicts the Price of XRP, Solana and Cardano by the End of 2025

05.07.2025
0

Google’s Gemini predicts that leading altcoins may find new price highs through the latter part of 2025.See,...

ChatGPT’s 42-Signal DOGE Analysis Flags Key $0.155 Support Test Amid Musk Drama

ChatGPT’s 42-Signal DOGE Analysis Flags Key $0.155 Support Test Amid Musk Drama

05.07.2025
XRP Ledger logs 34% in RWA monthly growth, eyes bigger boost from Mercado Bitcoin partnership

XRP Ledger logs 34% in RWA monthly growth, eyes bigger boost from Mercado Bitcoin partnership

04.07.2025
Solana Price Prediction – Institutional Investor Includes Solana in $100 Million Strategic Fund: Is Wall Street Warming Up to SOL?

Solana Price Prediction – Institutional Investor Includes Solana in $100 Million Strategic Fund: Is Wall Street Warming Up to SOL?

04.07.2025
Macro Meets Crypto: Predicting Prices with CPI, Fed Rates & BTC Dominance

Macro Meets Crypto: Predicting Prices with CPI, Fed Rates & BTC Dominance

04.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz