THE HASH: BNB Smart Chain Resumes Operations After Major Exploit; FTX Partners with Visa on Crypto Debit Card
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 October 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
This episode is sponsored by ZenGo.
The most valuable crypto stories for Friday, Oct. 7, 2022.
The BNB Smart Chain (BSC) resumed operations as chain validators adopted a software update that would close the exploit used by hackers to drain funds off-chain. Plus, FTX has partnered with Visa to roll out crypto debit cards across 40 countries.
See also:
BNB Smart Chain Resumes Operations After $100M Exploit
Crypto Exchange FTX's Token Surges 7% After Visa Partnership Report
US Jobs Growth Slows Less Than Expected; Bitcoin Slips From $20K
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Transcript
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| 0:00.0 | This episode is sponsored by Zengo. |
| 0:10.3 | This is the hash podcast. |
| 0:13.1 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more with |
| 0:18.2 | stories that matter to the crypto world, all on the hash for your ears. |
| 0:23.9 | You're listening to the Coin Desk podcast network. |
| 0:29.1 | Hey there. |
| 0:30.2 | Happy Friday and welcome to CoinDest TV. |
| 0:32.4 | You are watching The Hash. |
| 0:33.6 | I'm Zach Seward. |
| 0:34.5 | That's Adam Levine. |
| 0:35.6 | We got Jensenassie and Danny Nelson. |
| 0:49.3 | We got a lot to get to. Big story broke overnight. We're going to toss to Danny for the latest on a big old bridge exploit over in finance smart chain land. Danny, take it away. Yes, the finance smart chain ecosystem that I've learned so much about with the last 12 hours, |
| 0:54.4 | had a pretty big kerfuffle last night, New York time, when a hacker was able to basically |
| 1:01.8 | trick the Binance, the BSC or BNB or whatever it is, the token hub that helps move money |
| 1:07.2 | through the Binance ecosystem, hacked that, created 2 million fake tokens, or created |
| 1:12.5 | two million tokens that shouldn't have existed, worth about $570 million, and then began |
| 1:18.4 | trying to move that money out of the Binance blockchain ecosystem onto other chains, |
| 1:24.2 | where that money could go do crypto things. So the hacker appears |
| 1:29.2 | to have gotten $100 million in value out. And this attack was so severe that it caused the |
| 1:36.4 | unthinkable. They pushed the button. They stopped the chain. According to Binance, |
| 1:42.6 | smart chains, backers, there was a coordinated shutdown of the |
| 1:46.2 | blockchain in conjunction with the validators. This is something that is very, rarely seen in |
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