Binance crypto exchange hit by latest digital currency hack

Binance, the world’s largest cryptocurrency exchange, may have lost more than $100 million following a hack of its Binance Smart Chain blockchain network.

A reddit post by Binance discussing the incident said that the company temporarily suspended transactions and the transfer of funds after detecting an exploit between two blockchains, a method of digital theft that has been used recently in at least one other major hack.

“The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly," CEO Changpeng Zhao said in a tweet.

Zhao the issue took place on the BSC Token Hub, a cross-chain bridge that allows for the transfer of both digital assets and data between block chains.