The BNB Smart Chain (BSC) experienced a mixed performance in the second quarter (Q2) of the year as the broader cryptocurrency market cooled off after a strong price surge in March. While BNB, the native token of the BSC, remained mostly flat, down 5% quarter-over-quarter (QoQ), the network’s key metrics showed both positive and negative…
Read more
In 2023, financial losses on the BNB Smart Chain due to exploits or breaches fell by 85% to $161.1 million, according to the findings of a new Avenger DAO study report. The study data also shows that Q2 of 2023 was the costliest quarter, with approximately $69.5 million lost across 127 incidents. Scams Were the…
Read more
In a recent announcement by Binance, the BNB Foundation declared the successful completion of the 26th quarterly Binance Coin token burn through the BNB Chain. The burn, which included Auto-Burn and the Pioneer Burn Program, eliminated a significant amount of the exchange’s native token from circulation. BEP95 Initiative Results In 210K BNB Permanently Burned During…
Read more
Binance Coin (BNB), despite experiencing a significant decline earlier this year due to market volatility and the SEC lawsuit against Binance and its founder Changpeng Zhao (CZ), has shown remarkable recovery and promising prospects. Recent data indicates a resurgence in the BNB price, driven by the growing usage of decentralized applications (DApps) on the Binance…
Read more
The financial losses stemming from security incidents on the BNB Smart Chain in Q3 2023 were 27% lower than in Q3 2022. When compared to security incidents on other chains, rug pulls, price and reserve manipulation events on BSC accounted for “4% of the total fiat losses across all chains in Q3.” Fiat Losses 37%…
Read more
In a recent report by Messari, the analysis sheds light on the developments and challenges faced by Binance Chain (BNB), the blockchain created by Binance, the world’s largest cryptocurrency exchange regarding trading volume. The report highlights the separation of BNB Chain from Binance and various events and allegations that have impacted Binance and its associated…
Read more
The deployer account for LSC drained over $1 million in tokens from the project, then swapped them to BUSD using PancakeSwap. The astrology-themed NFT project Lucky Star Currency (LSC) has performed an exit scam for over $1 million, according to an October 9 report from blockchain security firm Certik. The project’s deployer account called the…
Read more
One of the largest non-fungible token (NFT) platforms, Opensea, has declared its decision to withdraw BNB Smart Chain (BSC) support. Opensea revealed that the “cost to continue supporting BSC outweighs the impact.” Opensea Pivots Away From BNB Smart Chain in Strategy Re-evaluation On August 18, 2023, Opensea proclaimed that they would cease BSC support after…
Read more
While Ethereum-based protocols have been hit with the majority of the exploit activity, BNB Smart Chain has also seen similar copycat exploits, according to BlockSec. The BNB Smart Chain (BSC) has reportedly suffered copycat attacks due to a vulnerability in the Vyper programming language, following a similar vein to the exploit on the decentralized finance…
Read more
GMX, the perpetual trading decentralized exchange (DEX) allowing up to 50X leverage, now generates more trading fees than the BNB Smart Chain (BSC) and Bitcoin. GMX Is The Third Most Active Platform According to statistics, GMX’s 1-day fee on January 19 was around $589,000, while BSC and Bitcoin on-chain fees, over the same period, stood at…
Read more
