Whats going on in Binance Smart Chain?

[Jaered]

 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?

[Ghondronk]

When the exchanges get popular and start to trade more assets, those become highly attractive to the hackers and crackers. At this point, they start to find out the vulnerabilities and any loop holes to get into it. Hence, the administrators should always eliminate possible attacks by strengthening the security levels. No matter how well their exchanges perform, one such incident will do a huge damage, not only to that exchange itself, but also to the growth of the crypto-market.

[Yogee]

...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?

It's not the BSC network that's under attack but the platforms built on top of it. Do not mix them up. Put the blame to the project developers who made the codes that were exploited by the attackers.

It's the same thing when platforms on ethereum chain are exploited. You don't put the blame to the miners and the thousands of nodes running the network.

[sujonali1819]

That means you are saying about those exchanges are  victim of hacks? Your words are meaning like that.

Hackers always target the trending platforms and which is basically build recently. Because new platforms has always some vulnerabilities, and they don't miss the chance to attract them.

[5W-KILO]

Don't expect the impossible, thinking that a new smart contract project can't be a victim to hacks is impossible this is reality, few projects don't even have qualified team members but because crypto speaks money they are all looking for their own way to fill pockets

[HardCore12V]

Blame the projects team not binance smart chain, there are too many crap people pretending to be experts in the blockchain field but they know nothing, a real project should know the existence of hacks and attacks and also be fully prepared to avoid falling victims, it's why we have platforms like CertiK and also bug bounties

[btcltcdigger]

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?

It's because BSC is a cheap chineese copy of ETH.
They couldn't copy most of the security protocols so they just left them out, leading to what you see here

[ryzaadit]

It's because BSC is a cheap chineese copy of ETH.
They couldn't copy most of the security protocols so they just left them out, leading to what you see here

Huh did you see an attacker into the chain ana everyone losing their fund? come one there is nothing problem at all on the chain the problem is on the third service who running on that chain. Hacker and other thing is always attacking an exchange not the chain because is really impossible

For the @OP, that's why the word of "Not your key not your crypto" for store your fund on third platform like exchange or other service is important, because to avoid any kind bad thing happen because attacker always coming to the service not chain you can't hack a crypto but a platform? yes.

[DevFile90]

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?

It's because BSC is a cheap chineese copy of ETH.
They couldn't copy most of the security protocols so they just left them out, leading to what you see here

I don't think so, even if those projects are running on ETH blockchain the hacks will still happen and the real truth is not all those projects are a victim of real hacks, few of them are responsible for the hacks themselves it's a inside job that's what I meant

[btcltcdigger]

It's because BSC is a cheap chineese copy of ETH.
They couldn't copy most of the security protocols so they just left them out, leading to what you see here

Huh did you see an attacker into the chain ana everyone losing their fund? come one there is nothing problem at all on the chain the problem is on the third service who running on that chain. Hacker and other thing is always attacking an exchange not the chain because is really impossible

For the @OP, that's why the word of "Not your key not your crypto" for store your fund on third platform like exchange or other service is important, because to avoid any kind bad thing happen because attacker always coming to the service not chain you can't hack a crypto but a platform? yes.

Pancakeswap and burgerswap are 1 on 1 clones of Uniswap. Yet uniswap isn't getting bleeded by this attacks. Why? Because gaps on infra layer (the blockchain) have been filled on ETH, but remain on BSC because the devs are clueless

[pealr12]

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?

Defi generally are vulnerable because there are lot of similar cases before so i don't think  this is specific to bsc only, however,  it is important that great precaution, if this type of incident if persist can lead to distrust.

[tabas]

Hacks do really happen in exchanges, whether they are swaps that were built on Ethereum or Binance Smart Chain. They're all vulnerable if a hacker sees the exchange security isn't tight.
BSC is just another platform and they must add precautions and additional security for their own exchange because they're the ones that's being targeted not BSC.

[blackened515]

Pancakeswap and burgerswap are 1 on 1 clones of Uniswap. Yet uniswap isn't getting bleeded by this attacks. Why? Because gaps on infra layer (the blockchain) have been filled on ETH, but remain on BSC because the devs are clueless

You can't completely put the blame on BSC smart chain network for any reason, these dex built on BSC are to be blamed for developing vulnerable platform for their customers, sushi, bzrx, and other ethereum based coins and projects were also hacked, this doesn't mean bsc as a whole is full of vulnerability, that's not true.

[Valak]

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 the development of internet technology is increasingly sophisticated. Those who created the malware didn't stop either. They will attack the latest websites. Especially regarding crypto assets, of course they prefer it. Of course, platform developers must be prepared to face these attacks. Binance has been attacked several times, even this year there has been an attack on Binance. If the BSC is attacked, all platforms that use the BSC smart contract will experience interference.

[zasad@]

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?

Binnace Smart Chain has not been hacked. It is a reliable centralized blockchain
I wrote about attacks on smart contracts in the Binnace Smart Chain.
The reason I think is very simple - developers' mistakes.
Everyone wants to make money on hype.

DeFi hacks [history] (EN)
https://bitcointalk.org/index.php?topic=5267124

[husnija]

The growing popularity of the binance smart chain has attracted hackers to take action, if they can't do the restoration they will charge a fantastic fee because it's so valuable. Maybe with strong defense system nothing will happen

[Beparanf]

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?

Most of the DEX built on BSC has same set of code that's why they've been hackers favorite to attack due to there volume and low security. It's just like free money for them since there platform security is very vulnerable. I don't know how this DEX progress in terms of there coding besides copying one another.

[rahmathidayat93]

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?

The good ones will always be attacked so that others can come to the fore, but at the moment I still believe that BSC will soon have more useful updates to defend their users, because Binance is very serious about building their network for the better.

[MoneyJ]

With different DeFi players coming to binance chain and the cheap transaction fees that it implements continue to lure in so as malicious hackers . So its inevitable. The good thing to do is for developers to secure there smart contracts and DApps even more.

[wack slacker]

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...