Oct 2022 Crypto Industry Updates

Last updated on 15 Oct, 2022 1 min read

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