Hackers withdrew $ 12.7 million in bitcoins from the pNetwork DeFi project

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The pNetwork interoperability project team reported on the hacking of the pBTC bridge on the Binance Smart Chain. Hackers stole 277 pBTC ($ 12.7 million).

Hackers managed to withdraw almost all available pBTC tokens – these are tokenized bitcoins on the Binance Smart Chain network. Tokens were used as collateral in DeFi projects. The attackers took advantage of a vulnerability in the platform’s code and it looks like they were black hackers who are not going to return anything.

“We are sorry, but we are forced to report the pBTC hack at BSC and the theft of 277 BTC. Other bridges were not affected and the rest of the assets are safe. We have already found a bug and are working on fixing it. The bridges will be restarted after we have secured them, most likely within a few hours. ” wrote
pNetwork command.

In addition to fixing bugs, the developers are discussing the issue of reimbursing damages to users affected by the attack. They published a statement for hackers with a request to return the stolen funds for a reward of $ 1.5 million. However, the developers themselves do not believe in such nobility of the attackers.

Later developers
wrotethat the correction of the error in the project code is ready and, after verification, the work of pNetwork bridges will be resumed.

In July, another similar project supporting multiple Thorchain blockchains was hacked twice. In the first incident, hackers withdrew $ 7.6 million in ETH, and in the second time – already $ 8 million.

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