Whats going on in Binance Smart Chain?

[tvplus006]

The hasty development of projects on BSC leads to security holes. Hackers rely on vulnerabilities to profit. This situation occurs not only in projects on BSC, but in the past, projects on Ethereum have also encountered these problems. DEFI projects on Ethereum have lost all funds in the liquidity pool due to errors in the source code such as BRZX, SoftLink...

Everyone can save their money if they invest in such projects that have passed the audit. If the platform is not audited, this should be a red flag when making investment decisions. For myself, I have determined that one of the best companies among those who provide audit services is Certik.

[baigreen]

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

Yes, listen hackers are rich people. They stole 100 M$ once and sat down to burn money. It's good that no attacks. So the scammers are full ... And if they are full, then our users are less stressed. Who knows when they'll attack again, though. Better not to think about the bad.

[FireBallex]

Either it's BSC or Ethereum hackers will get the job done, the problem is from new crypto developers on the block who knew too little about running a blockchain project, instead of them to hire qualified personnel they took the whole thing into their hands

[Ararbermas]

Binance smart chain is out of it wherein it's not their problem anymore. The developer or should i say the team behind of that project is the one that need to blame on that issue mate, because if they hired a professional team perhaps it will not happen, but unfortunately it happened already, for this reason people will not trust them anymore because of being lack of awareness when it comes to such issues.. Its very common here actually but those who make project still didn't take this seriously just to prevent hacking.. probably its enough for them after filling their pockets such leaving when there's an issue occurred..

[Jaered]

This is what you got when the entire community just throwing money at every swap platform released, an unsecure code that could make people loss money. Making code for defi isn't a joke and anything should be reviewed and audited thoroughly and I read the news that there's indication of changing vital code that leads to this attack basically reopining a vulnerability that shouldn't be a problem.

As we speak, another BSC AMM just got hacked. BurgerSwap or something like that. Not nice at all. Scaring investors

and there's many other swaps service that are just waiting to be attacked since most of them forking from each other.

I just went through many BSC Swap platforms and they are almost basically forks of Pancakeswap, both new and old services. Hackers would find it easier than taking candy from a baby

[Almasani]

First it was pancakeswap, venus, bunnyswap, now it is burgerswap and juld. What's going on?I know blockchains are vulnerable and all. But I noticed that the Binnace Smart Chain has been under severe attacks recently. Is it because of low number of validators leading faster transactions or what?

I think there are not too many BSC users, so the transaction speed is still very high compared to Ethereum. In principle, BSC and Ethereum use the same system, Ethereum wallet users can receive BSC. Attacks that occur against BSC exploit weak system design and code bugs using flash loans.