Binance’s blockchain is now back in operation after it was halted on Thursday evening following a “potential exploit” that may have targeted hundreds of millions of dollars in cryptocurrency.
"Due to irregular activity, we're temporarily pausing BSC," BNB Chain tweeted from its official account.
Up to two million BNB Smart Chain (BSC) tokens were targeted, but the actual losses are expected to be much lower.
The world’s largest crypto exchange predicted US$100mln to US$110mln in assets were moved off the blockchain, but around US$7mln was already frozen.
A considerably larger amount of assets could have been stolen if Binance had not taken the risk to pause the chain.
Between Thursday night – when the announcement was first made - and Friday late morning, BSC’s native BNB token dropped around 3% to US$285, according to Coin Market Cap, which is owned by Binance.