A recent security report notes that Boy X Highspeed (BXH), a decentralized finance platform (DeFi), suffered a massive cyberattack that led to the theft of more than $130 million USD in cryptocurrency. This is a project based on Binance Smart Chain (BSC), launched as a trusted alternative but has become the target of attacks against DeFi protocols.
After detecting the heist, BHX suspended withdrawals and deposit services on its platform, plus it tried to reassure its clients by mentioning that virtual assets held on HECO, Ethereum and OEC are completely secure.
The platform’s security teams also shared the cryptocurrency addresses to which the stolen assets would have been transferred, in addition to requesting the exchange platforms to create a blacklist for tracking the activity of these addresses.
BXH is offering a global reward for identifying the hackers responsible for the attack on October 30th.
The total reward pool has now risen to 10 million US dollars! pic.twitter.com/CeW6rnRnpK
Poly Network appears to have responded favorably to the exchange platform’s request: “To prevent further transfers, Poly Network will suspend cross-chain services related to stolen assets at BSC without affecting other blockchain implementations.” It should be remembered that a few weeks ago this blockchain network also suffered a massive attack, which led to the theft of hundreds of millions of dollars in cryptocurrency that were eventually returned by the attackers.
Separately, BXH announced that a reward of up to $10 million USD is being offered to anyone who provides information about the attackers: “Any third-party organization, individuals, law enforcement and security companies that have contributed to asset recovery can share the reward,” said a statement from the network, published on Twitter.
As mentioned above, this is just the latest example of attacks against DeFi projects during the most recent months. The most recent attacks involve the cream finance lending protocol, which suffered the loss of $130 million USD in all kinds of virtual assets, while the developers of AutoShark Finance lost about $2 million USD.
To learn more about information security risks, malware variants, vulnerabilities and information technologies, feel free to access the International Institute of Cyber Security (IICS) websites.
He is a well-known expert in mobile security and malware analysis. He studied Computer Science at NYU and started working as a cyber security analyst in 2003. He is actively working as an anti-malware expert. He also worked for security companies like Kaspersky Lab. His everyday job includes researching about new malware and cyber security incidents. Also he has deep level of knowledge in mobile security and mobile vulnerabilities.