Binance loses $100 million in recent crypto hack

Already struggling cryptocurrencies took a fresh hit Friday. Binance, the world’s biggest crypto exchange company fell victim to a cyberattack wherein around $100 million worth of Binance Coin was stolen.

Changpeng Zhao, CEO and co-founder of Binance, said in a tweet that the crypto platform witnessed an “exploit on a cross-chain bridge.” He further added that issue was contained and that people's “funds are safe.” 

Binance froze $7 million worth of digital assets and suspended BSC Token Hub, the cross-chain bridge that was hacked.

The recent hack marks the third cyberattack on crypto entities this year with companies losing about $2 billion worth of digital assets.