Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»White hat hacker or malicious intent?
TRADING NEWS

White hat hacker or malicious intent?

By Crypto FlexsMay 29, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
White hat hacker or malicious intent?
Share
Facebook Twitter LinkedIn Pinterest Email

The BNB chain recently experienced what appears to be a minor exploit, resulting in the loss of approximately $80,000 worth of Bitcoin. The incident, which involved a number of suspicious transactions, sparked debate over whether the attackers were white hackers (people who ethically expose vulnerabilities to improve security) or malicious actors with the intent to steal.

BNB exploits $80,000 in Bitcoin in transactions. Source: Cyberse Alert

Nature of the $80,000 Exploit

The amount lost from this potential exploit is relatively small compared to other high-profile cryptocurrency hacks, which typically cost millions of dollars. This has led some experts to speculate about the motive for the attack. According to on-chain security firm Cyvers, the nature of the transactions and the involvement of the exploiters on both Tornado Cash and Binance could suggest a white hat operation. Tornado Cash is known to be used to anonymize transactions, and Binance, the world’s largest centralized exchange, requires Know Your Customer (KYC) verification, which could potentially reveal the identity of hackers if they have malicious intent.

Why it can be a white hat action

White hackers often use their skills to expose security flaws without malicious intent in order to improve overall blockchain security. The fact that the attackers funded their activities through Tornado Cash but also interacted with Binance, a platform known for its stringent security measures, suggests that this was likely a controlled and ethical hack. Hackers with harmful intent typically avoid platforms where identity verification could expose them.

Comparative context: Other recent cryptocurrency events

This incident is noticeably smaller than other recent attacks. For example, Gala Games faced a serious breach where $23 million worth of Gala tokens were initially stolen, but after receiving significant attention and direct threats from the community, hackers unexpectedly returned the majority. Likewise, another recent incident involved the return of $71 million worth of cryptocurrency following a wallet poisoning scam, suggesting that public pressure and fear of exposure may lead to the recovery of stolen funds.

Implications for cryptocurrency security and community trust

The recurring theme of funds being returned due to ethical considerations by white hackers or pressure on malicious actors highlights the complexity of security within the cryptocurrency space. Each incident provides valuable lessons about the importance of strong internal controls and the potential role of community and regulatory oversight in protecting assets.

As the BNB Chain team and the wider cryptocurrency community analyze this latest attack, we will focus on the potential benefits of ethical hacking in discovering vulnerabilities and strengthening security measures to prevent future attacks.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Metabuses are increasing again -Records in August +13k NFT users

September 15, 2025
Add A Comment

Comments are closed.

Recent Posts

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025
Most Popular

Riksbank’s final report on e-Krona explores offline payment solutions

March 21, 2024

Crypto fraud advocate pleads guilty, faces up to 20 years in US prison

June 8, 2024

Bitcoin Crash Below $66,000 Shocks Markets, Why A Drop To $54,930 Is Possible

June 20, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.