BNB Hackers Lost More Than $53 Million Liquidating On Lending Protocol
When hackers exploit any platform, do they get away with that? Maybe they manage to get away with stolen crypto, they can lose crypto somehow. The crypto market just crashed and many traders position was liquidated. BNB hacker lost more than $53 million via liquidation.
The attackers stole almost $600 million worth of BNB tokens by exploiting the BNB Smart Shain. According to blockchain security firm PeckShield, the attackers kept more than $53 million as collateral on the lending protocol Venus and took a loan of $30 million USDT. Due to the sudden pullback in the crypto market, the attackers' position was liquidated.
Good to see the attackers lost crypto in some way. It is a crime to exploit any protocol and trick others to steal their crypto assets. Criminal actors will get caught sooner or later. Even if they do not get caught, they may not enjoy the crypto assets they steal. Nature will take revenge in some way. Karma is practical.
Someone has the power or takes advantage of the vulnerability to hurt others and steal their crypto. Do you think that person will get peace inside? That person has to face the consequence at some point. Today it seems okay, but it is not okay to misuse the power. It will come back and hurt the bad actors.
Some people get upset because the crypto market went up and they could not buy the dip. Or, they planned to buy more but failed to do that before. Now you will get your favorite crypto at a low price and that can be a good opportunity to take your entry. I am happy to see the crypto market move.
It is a good time to pay more attention to the crypto market You can make your plan and execute that to make your crypto portfolio. No expert has the magical power to see exactly what will happen in the crypto market. So it is better to prepare yourself to deal with the unexpected situation.
Hope the BNB hackers get some lessons. Exploiting and hacking any platform to steal crypto will not bring anything positive. They might not realize how their stolen crypto will disappear or they may suffer for the crime.
