BNBchain team successfully introduces fork of cross-chain infrastructure between Beacon Chain and Smart Chain

To fix the vulnerability in the cross-chain protocol, the developers of the BNB chain released a fork, which has been introduced successfully today.

On 7 October, The “BSC Token Hub”, a cross-chain protocol between BNB Beacon Chain and Smart Chain, was exploited because of a vulnerability. Hacker took the advantage of the vulnerability & secured around $100 million worth of crypto funds.

On 11 October, The scientific team behind the BNB chain announced the new version 1.1.16 for the cross-chain protocol, to fix the bug.

Today Devs confirmed that the BSC upgrade was successfully introduced at 9 AM UTC and now all transactions, which got stucked in the Defi protocol trades, will start to either execute or cancel.

“Cross-chain between BNB Beacon Chain and Smart Chain is back to normal. All the funds stuck in cross-chain transfers should either arrive in the target wallets or get refunded back to the source,” Team said.

BNB coin strength

On 7 October, when the BSC cross-chain was exploited the team froze the BSC network activity via onone-by-requests to the validators.
The hack news on BSC Token Hub was spreading in the crypto sector like a virus and the negative news was trying to degrade the reputation & price of the BNB chain & coin respectively but BNB showed significant strength and only faced a downfall by less than 5%.

At the time of writing this article, the price of the BNB coin is $270 and it is down by 0.5% over the last 24 hours’ trade price.

Read also: Changpeng Zhao warns people against Defi hack incidents