Critical Vulnerability Successfully Addressed by BNB Core Team
Changpeng “CZ” Zhao, the CEO of Binance, recently announced on Twitter that the BNB Core team had successfully resolved a critical vulnerability in the BNB chain. The Jump Capital security team discovered the security vulnerability and quickly fixed it.
The Role of Jump Crypto in Binance’s Security
A well-known professional in the field, Sandeep Nailwal, appreciated the role of the Jump Crypto team in locating and fixing the security problem. He commended them for taking a proactive role in creating a number of technological solutions, such as their work creating a zero-knowledge-based cross-chain bridging solution.
But neither Binance nor Jump Crypto have revealed the specifics of the flaw.
The Bug Bounty Program for Binance
If Jump Crypto received compensation through Binance’s bug bounty program is yet unknown. For finding flaws in Binance’s ecosystem, the program gives incentives ranging from $200 to $10,000, with a maximum payout of $100,000. Every reported problem, according to Binance, may be verified in a day.
Binance’s bug bounty program has so far awarded 300 vulnerabilities.
Recent Security Breach at BNB Chain
The BNB Chain Bridge, also known as the “BSC Token Hub,” was hacked last year, resulting in the theft of two million BNB, valued at more than $500 million at the time. This announcement follows a serious security issue that occurred during that period. By faking messages and creating new coins, hackers were able to take advantage of a cross-chain bridge linking the BNB Beacon Chain and the BNB Smart Chain. The freshly created tokens have no effect on other users’ holdings, nevertheless.