BNB CHAIN

DESCRIPTION OF EVENTS

BNB Chain is a blockchain network designed with an AI-first approach, focusing on low latency, minimal gas fees, and protection against Miner Extractable Value (MEV) attacks. The platform operates with an all-in-one BNB model, enabling users to build decentralized applications (dApps) efficiently and affordably. With an impressive daily active user count of 2.859 million and over $9.3 billion in trading volume, BNB Chain offers fast transaction finality (1.875 seconds) and ultra-low gas fees (as low as $0.007564), making it highly attractive for both developers and end users.

The platform supports a variety of use cases, including stablecoins, real-world assets (RWAs), and meme tokens. BNB Chain allows for the on-chain issuance of stablecoins, enabling rapid, low-cost transactions ideal for daily payments and decentralized finance (DeFi) applications. It also facilitates the tokenization of real-world assets like gold and treasuries, providing liquidity and accessibility in DeFi ecosystems. Additionally, BNB Chain has become a hub for meme coins, with a vibrant community and deep liquidity, making it a go-to for meme token creators and traders.

As a platform for innovation, BNB Chain offers a variety of support programs to help developers and entrepreneurs. These include grants, TVL incentives, gas grants, and discounts, fostering a thriving ecosystem of projects. The chain is trusted by major exchanges, wallets, and institutions, and has incubated hundreds of projects and hosted thousands of hackathons. For developers, BNB Chain provides a range of tools, from AI-powered blockchain assistants to templates and APIs, making it easier to build and deploy dApps on the network.

Unfortunately, it appears that the BNB Chain Twitter/X account was not properly secured.

The phishing message was posted as follows:

"Good news: The BNB Chain Airdrop is live!

Claim your share of free rewards on BNB Chain when you:

• Hold BNB in your wallet • Complete simple social tasks • Submit your wallet address

Rewards will be distributed directly to eligible addresses after the campaign ends.

Don’t miss out - join before Oct 31!

Join now: x-secured.com/?url=https%3A%..."

Meme Coin Made: 0x0a43fc31a73013089df59194872ecae4cae14444

BNBChain reported that, in total, 10 phishing links were posted that resulted in $8K stolen across all chains. The biggest victim was from one single user at $6.5K. One phishing contract address was deployed. The attacker initially injected $17.8K and exited 100% of his meme tokens for $22K.

The BNB Chain account appeared to be able to post while compromised. A warning was posted on their account.

"Our X account may have been compromised.

Please do not click on any links recently posted from this account.

We’re investigating and will share updates as soon as possible.

Thank you for your patience and caution."

BNB Chain ultimately regained full control of its account. The root cause is still under investigation, and the team promised to provide further updates. The estimated damage from the incident is $8K, and all affected users will be fully compensated.

The breach involved 10 phishing links, resulting in $8K being stolen across multiple chains. The largest loss came from a single user, who was defrauded of $6.5K. Additionally, a phishing contract address was deployed, with the attacker initially injecting $17.8K and then exiting 100% of their meme tokens for $22K.

BNBChain has publicly announced that victims "will be compensated fully"

BNB Chain expressed gratitude to its community and partners for their swift response and vigilance throughout the incident. The team remains committed to transparency and reinforcing security measures to prevent future breaches. They encouraged users to stay "SAFU" and assured that further steps are being taken to enhance protection.

It does not appear that the BNB Chain has provided further updates on how the account was originally breached.

BNB Chain's Twitter/X account was compromised and used to post phishing links, leading to a theft of $8K across multiple chains. The breach involved 10 phishing links, with the largest victim losing $6.5K. Additionally, a phishing contract was deployed, with the attacker initially injecting $17.8K and exiting their meme tokens for $22K. BNB Chain regained control of the account and is investigating the root cause of the breach, promising full compensation for affected users. The team thanked the community for their vigilance and commitment to improving security measures to prevent future incidents.

BNBCHAINZH - "Currently, the English official Twitter account of @BNBCHAIN has been. We are urgently working on a fix. Please do not click on any links!" - Twitter/X (Oct 28)
MisterNarcos - "The official @BNBCHAIN X account has been confirmed compromised and is currently spreading malicious Airdrop / Rewards links. Until a full recovery is announced: Do NOT connect your wallet or sign any transaction originating from recent posts. Assume any link circulating from that account in the last hours is hostile even if it looks legitimate. Spread awareness one alert can save someones entire portfolio." - Twitter/X (Oct 28)
BNBCHAIN - "Were back! The team has regained full access of the @BNBCHAIN account. The root cause of this breach is still under active investigation and we will share the updates as soon as we can. The estimated damage is $8K and the victims will be compensated fully." - Twitter/X (Oct 28)
Meme Coin 4 Created By Exploiter - BSCScan (Oct 28)
Minting Transaction For 4 Meme - BSCScan (Oct 28)
Favezy_ - "Imagine hacking @BNBCHAIN only to spam endless links instead of tweeting a CA. Some hackers just NGMI" - Twitter/X (Oct 28)
BNB Chain Homepage (Oct 28)

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