Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BNB 
ZEC 
B2 BSquared Network suffered a US$3.9 million attack on BNB Chain. Analysts reported that
BSquared Network, a second-layer expansion solution based on the Bitcoin ecosystem, is estimated to have suffered a security breach attack on BNB Chain, causing approximately US$3.86 million in losses. The incident was flagged by online analyst Specter, who detailed the transfer process of stolen funds in a series of posts on the X platform.
Attack details
According to Specter's analysis, the attacker successfully stole 8.591 million B2 tokens-which are native to the BSquared Network. The tokens were quickly exchanged for 5,409 encapsulated BNB (WBNB), valued at approximately US$3.11 million at the time of the transaction. Hackers then bridged the funds to Ethereum and continued to transfer assets into the privacy-conscious cryptocurrency Zcash, a common tactic used by malicious actors to cover up the traces of stolen funds.
Subsequent incident and market impact
After the news was disclosed, the price of B2 tokens fell sharply, reflecting market concerns about network security. As of press time, the BSquared Network team has not issued an official statement confirming the attack, nor has it announced any recovery plan. This incident has exacerbated the cross-chain bridge and DeFi attacks that have plagued the cryptocurrency industry in recent years, and BNB Chain has been a frequent target due to its high transaction volume and huge liquidity pool.
Implications for the broader encryption ecosystem
The attack highlighted persistent vulnerabilities in blockchain infrastructure, especially in terms of token bridges and cross-chain interoperability. For BSquared Network users, the incident raised questions about the security of their assets and the ability to secure network funds. For the industry as a whole, this is a reminder of the risks associated with emerging tier 2 solutions and the importance of strict smart contract auditing and real-time monitoring systems.
Conclusion
The BSquared Network attack on the BNB Chain caused approximately US$3.86 million in losses, once again highlighting the ongoing security challenges in the decentralized finance sector. As attackers move funds through privacy tools such as Zcash, the likelihood of recovering losses is decreasing. The incident reinforced the need for investors to be cautious and the need for project parties to put safety ahead of deployment speed.
Frequently Asked Questions
Question: How much money was stolen in the BSquared Network attack?
On-chain analyst Specter reported that 8.591 million B2 tokens were stolen, worth approximately $3.86 million at the time of the attack.
Question: How do hackers transfer stolen funds?
The attacker exchanged B2 tokens for WBNB on the BNB Chain, then bridged the funds to Ethereum, and is currently transferring them to Zcash to cover up the transaction trail.
Question: Has BSquared Network responded to this incident?
As of the latest news, the BSquared Network team has not issued an official statement on this attack or any remedial measures.
