Oct 2022 Crypto Industry Updates

Table of Contents

Content will be sorted chronologically with latest at the bottom.

  • BSC Token Hub exploited for 100+ million USD
    • BSC Token Hub is a bridging platform that enables assets to move across various blockchain protocols.
    • exploit occurred due to a bug in the bridge that allowed the attacker to forge security proofs.
    • Hackers attempted to drain $560 million in BNB tokens from the blockchain’s bridge, with more than $100 million successfully siphoned to other chains.
    • BNB Chain was shutdown temporarily for investigations
  • Tether Slashes Commercial Paper to Zero
    • Tether announced that it has eliminated commercial paper from its reserves, replacing these investments with U.S. Treasury Bills (T-Bills).
    • This announcement comes as part of Tether’s ongoing efforts to increase transparency

Started investing in crypto towards the end of 2020.