BSC-based pNetwork loses $12.7 million to hackers BSC-based pNetwork, a cross-chain platform, has suffered a significant loss of at least $12.7 million due to a recent hack. The incident is part of a larger trend of cryptocurrency exchanges and projects being targeted by cybercriminals.
The hack occurred when hackers exploited a bug in the pNetwork’s codebase, siphoning up to 277 pBTC, which is serving as collateral. The thieves made off with most of the collateral, leaving the pNetwork team with only $11.5 million.
The hack is not the only recent incident of its kind. Other cross-chain platforms, such as THORChain, Belt Finance, BurgerSwap, Spartan Protocol, SafeMoon, Meerkat Finance, Uranium Finance, Bogged Finance, bEarn, Cream Finance, and PancakeBunny, have also fallen victim to similar exploits.
The pNetwork team has promised to offer $1.5 million in rewards to the hackers if they can return the stolen funds. However, the team has yet to provide any updates on the status of the exploit and plans to pay back affected users.
The losses have had a significant impact on the pNetwork’s PNT governance token, which has