BNB Chain Partners with ZachXBT for Enhanced Security
In an effort to bolster its security and combat on-chain criminal activities, BNB Chain has announced a partnership with renowned crypto investigator ZachXBT. This collaboration, made public on Wednesday, November 5, aims to enhance the platform’s security measures and promote greater transparency within its ecosystem. BNB Chain expressed its commitment to safety, stating:
“Maintaining a secure Web3 environment requires more than just technology; it necessitates the involvement of dedicated individuals who meticulously follow every lead. ZachXBT is now joining the BNB Chain community to help ensure a more transparent, fair, and clean ecosystem.”
ZachXBT’s Role and Recent Investigations
ZachXBT is a well-respected figure in the crypto space, recognized for his thorough analysis of hacks and security breaches. Following the announcement of this collaboration, ZachXBT indicated that he plans to share findings from a recent investigation into a specific exploit. However, he did not provide details about the nature of the exploit or whether it correlates with any activities within the BNB ecosystem.
Recent Exploits in the BNB Ecosystem
The BNB Chain has experienced a series of exploits over the past few months. Notably, on October 1, a hacker stole approximately $13,000 by gaining unauthorized access to the X accounts of multiple users, though BNB Chain took measures to reimburse all affected individuals. Earlier, a significant breach occurred on September 18, the same day BNB Chain’s New Gold Protocol was launched, when hackers exploited a weakness in the protocol’s smart contract related to pricing rules, leading to a $2 million loss through a flash loan.
The most severe incident affecting the BNB ecosystem took place in 2022, when an attacker made off with $570 million in BNB from the BSC Token Hub cross-chain bridge, which links BNB’s Beacon Chain with the main BNB Chain. Such incidents highlight the critical need for enhanced security measures as BNB Chain moves forward with its partnership with ZachXBT.
