Hacker steals $12 million in bitcoins using bug in pNetwork pr | ССenter – Blockchain and Bitcoin

Hacker steals $12 million in bitcoins using bug in pNetwork protocol

A bug in the code base of pNetwork's DeFi interconnect platform allowed an attacker to steal 277 bitcoin-backed bBTC tokens, worth more than $12 million in total.

The project team did not disclose details of the attack, but said it discovered the vulnerability and took steps to fix it. Adding that the bug allowed the hacker only access to the Binance Smart Chain blockchain bridge and the rest of the funds are perfectly safe.

pNetwork also announced that it would pay the attacker a $1.5 million reward if he returned the stolen funds. "Unfortunately, finding vulnerabilities is part of the game, but we all want the DeFi ecosystem to continue to grow, and the refund is a step in that direction," it said.

As a result of the incident, the rate of the PNT platform's own managing token fell more than 18%.