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<ul class="summary-list"><li><keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> and <keyword id="11896271" type="UNKNOWN" weightage="60" keywordseo="ether" source="Orion">ether</keyword> may have raked in impressive gains for 2021, but one <keyword id="11961768" type="UNKNOWN" weightage="60" keywordseo="altcoin" source="Orion">altcoin</keyword> beat them handily.</li><li><keyword id="7428809" type="UNKNOWN" weightage="60" keywordseo="binance-coin" source="Orion">Binance coin</keyword> gained 1,344% this year, far outperforming returns of 73% for bitcoin and 455% for ether.</li><li>The rise of the coin can be attributed in part to the growth of the <keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> Smart Chain ecosystem, said Arcane Research.</li></ul><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> and <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> may have raked in impressive gains for 2021 but one altcoin beat them handily: <a href="https://markets.businessinsider.com/currencies/bnb-usd">binance coin</a>.The third-largest cryptocurrency by market capitalization gained 1,344% this year, far outperforming bitcoin's 73% and ether's 455%.The rise of the coin, ticker <keyword id="12847564" type="UNKNOWN" weightage="60" keywordseo="bnb" source="Orion">BNB</keyword>, can be attributed in part to the massive growth of the <a href="https://www.binance.org/en/smartChain">Binance Smart Chain</a> ecosystem, according to a recent report by Arcane Research.The BSC, which took some market share from ethereum, enables users to build their decentralized apps and digital assets on one blockchain, among others. <div type="image" title="Arcane Research - Top 3 Coins: Performance in 2021" height="410" width="1184" msid="88596987" hostid="261"></div>BNB is issued by <a href="https://markets.businessinsider.com/currencies/busd-busd">Binance Holdings</a>, the world's largest <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> exchange, and is the native currency of Binance's own blockchain, the Binance chain. Initially, the coin was based on the ethereum network.BNB trades at about $522 and commands nearly 4% of the entire crypto market with an $87 billion market cap, according to CoinMarketCap.Elsewhere in the market, altcoins gained traction throughout the year as droves of retail investors piled in, looking to cash in on the hefty gains."Throughout the first five months of the year, bitcoin saw a continuous loss of dominance, as traders rotated into altcoins while bitcoin pushed above former highs," the research firm said.This year saw the rise of many meme tokens as well, including shiba inu, a dogecoin spinoff whose price rocketed 44,540,000% this year."These months saw a mixture of 'stupid' pumps in <keyword id="12410907" type="UNKNOWN" weightage="60" keywordseo="meme-coins" source="Orion">meme coins</keyword> and ethereum DeFi strength," the firm added.

Binance coin's massive 1,300% gain in 2021 beat both bitcoin and ether, cementing its spot as the world's 3rd-biggest crypto

<ul class="summary-list"><li>Hackers stole almost $700 million in 72 attacks in the first quarter of 2022, Atlas VPN said.</li><li>Attacks on the <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword> and <keyword id="13062973" type="UNKNOWN" weightage="60" keywordseo="binance-smart-chain" source="Orion">Binance Smart Chain</keyword> ecosystems accounted for over half of these losses.</li></ul><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword> hackers stole almost $700 million in 2022, and attacks on the solana and Binance smart chain ecosystems accounted for well over half of that total, according to a report on Tuesday from <a href="https://atlasvpn.com/blog/blockchain-hackers-stole-nearly-700-million-in-q1-2022">Atlas VPN said</a>.<keyword id="12048079" type="UNKNOWN" weightage="60" keywordseo="cybercriminals" source="Orion">Cybercriminals</keyword> stole $682 million from 72 attacks in the first three months of the year, the report said. Hacks of the solana and BSC networks led to almost $500 million in stolen funds, with $400 million stolen from solana and $100 million from Binance smart chain, according to Atlas VPN's data, which was based on figures from <a href="https://atlasvpn.com/blog/blockchain-hackers-stole-nearly-700-million-in-q1-2022">Hacked Slowmist.</a><keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> were the top target, with the highest number of hacks at 20, netting a near-$49 million loss. Some attackers used phishing attacks on Discord to steal victims' NFTs, the report said."With the rise of new crypto ecosystems, cybercriminals get more targets they can exploit. In addition, the surging NFT trend attracted even more scammers to the industry," Atlas VPN said.Monetary losses were calculated based on the conversion rate of a particular cryptocurrency when the attack took place.The BSC ecosystem had 12 hacks while the solana ecosystem was hacked 4 times. <a href="https://markets.businessinsider.com/news/currencies/crypto-market-facebook-earnings-metaverse-blockchain-ethereum-bitcoin-solana-hack-2022-2">Wormhole</a>, a communication bridge between solana and other decentralized finance (DeFi) networks, was the target of the biggest <keyword id="11907745" type="UNKNOWN" weightage="60" keywordseo="hack" source="Orion">hack</keyword> in February of this year."An attacker exploited a signature verification vulnerability in the network to mint 120K Wormhole-wrapped ether on solana, worth about $334 million," Atlas VPN said.The ethereum ecosystem experienced 16 hack attacks in 2022 and lost nearly $25 million. It experienced the same number of hackings in the first quarter of last year, making it the top target for hackers.Exchanges were hacked three times, losing $42 million. Other types of hacks on blockchain caused $52 million in losses in 9 instances.Most blockchain-related hacks occur when cybercriminals exploit flaws in the project code. Successful hack can cause massive losses to creators and investors on crypto platforms.Blockchain-related hacks have reached a record-high in the first quarter of 2022, showing an 118% increase compared with the same quarter last year, the data showed."The growing market of cryptocurrencies entices not only legit people interested in the technology, but also cybercriminals who want to exploit it," Atlas VPN said.Hackers stole with more than <a href="https://www.businessinsider.in/investment/news/biggest-crypto-hacks-of-2021-over-4-billion-stolen/slidelist/88560280.cms">$4 billion worth</a> of cryptocurrencies in 2021, according to a report by Crystal Blockchain, almost triple the amount stolen in 2020.And last week, a crypto hacker pulled off one of the <a href="https://markets.businessinsider.com/news/currencies/crypto-hack-ronin-network-heist-cybercrime-cryptocurrency-axie-infinity-polynetwork-2022-3">largest heists in history</a>, stealing $625 million worth of ether and stablecoin USDC after targeting Axie Infinity's Ronin Network.

Crypto blockchain hackers have stolen almost $700 million in just 3 months this year, with solana and Binance smart chain hit hard

<ul class="summary-list"><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> exchange <keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> said Tuesday its venture capital arm has invested in blockchain game startup Star <keyword id="11970102" type="UNKNOWN" weightage="60" keywordseo="sharks" source="Orion">Sharks</keyword>.</li><li>Players can own, trade and mate the underlying <keyword id="11976459" type="UNKNOWN" weightage="60" keywordseo="shark" source="Orion">shark</keyword> NFTs as they compete in its game's metaverse. </li><li>The Star Sharks makers' games have drawn in 1 million players a day and are part of the growing crypto gaming space.</li></ul>Binance, the largest crypto exchange in the world, is backing a blockchain game startup's shark metaverse as interest in virtual worlds becomes more mainstream. Its venture capital arm and incubator Binance Labs has placed a "strategic investment" of just under $1 million in Star Sharks, the company told Insider. Star Sharks's first game enables players to compete for rewards by trading and even mating the pet sharks they own, in the form of underlying shark non-fungible tokens (NFTs) on a 3D mobile platform. Players in "Starsharks.Warriors" join forces to build and run a new shark-metaverse as a community, according to Binance Labs. It is set to debut this month.Built on the Binance Smart Chain (BSC) blockchain, the decentralized game reflects a growing interest in the metaverse, as with Facebook's recent decision to <a href="https://www.businessinsider.com/facebook-new-name-meta-rebrand-metaverse-zuckerberg-apps-2021-10?r=US&amp;IR=TIR=T">change</a> its corporate name to "Meta." A metaverse is a virtual space where people can interact digitally using avatars. "After launching their GameFi platform on Binance Smart Chain (BSC), we believe that Star Sharks will be an important contributor to the development of the gaming sector and therefore benefit all users in the BSC ecosystem," Chase Guo, investment director at Binance Labs, was quoted as saying in a <a href="https://www.binance.com/en/blog/421499824684902988/ecosystem/binance-labs-makes-strategic-investment-in-star-sharks-to-grow-the-bsc-ecosystem">company statement</a>. Binance Labs said its investment would help expand the gaming sector on its BSC network. It launched the <a href="https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc">BSC network</a> for decentralized, peer-to-peer applications in October last year. The team behind Star Sharks came in part from Timi Studio Group, whose games have pulled in more than 1 million users a day within three months, and from <keyword id="11892740" type="UNKNOWN" weightage="60" keywordseo="google" source="Orion">Google</keyword>.<a href="https://markets.businessinsider.com/news/currencies/play-to-earn-crypto-gamefi-nft-games-axie-infinity-huobi-2021-10">GameFi</a>, where decentralized finance meets the gaming industry, is pulling a lot of attention from the crypto community and from the biggest gaming guilds in the sector. Its business model often allows players to obtain a share of the dividends brought in from game development, with their most common feature being "play to earn". Ethereum-based game "Axie Infinity" is one of the most popular GameFi projects.In the Star Sharks first game, those who refer new players will get tokens based on the activity rewards of the people they have referred.

Binance bets on a gaming NFT metaverse where players can mate their pet sharks

<ul class="summary-list"><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> exchange <keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> said it will collaborate on <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword> projects with South Korea's YG Entertainment. </li><li>Binance said NFTs will be created under an eco-friendly system, a move addressing environmental concerns. </li><li>YG's artists include the popular <keyword id="12048096" type="UNKNOWN" weightage="60" keywordseo="k-pop" source="Orion">K-Pop</keyword> groups <keyword id="13131456" type="UNKNOWN" weightage="60" keywordseo="blackpink" source="Orion">Blackpink</keyword> and Big Bang. </li></ul>Binance, the world's largest cryptocurrency exchange, will collaborate on blockchain projects with YG Entertainment, the South Korean K-Pop record label behind Blackpink, Big Bang, and other popular artists, the company said late Monday. The strategic partnership will include non-fungible tokens, or NFTs, which Binance said will be developed with sustainability in mind, a move that <a href="https://www.businessinsider.com/personal-finance/proof-of-stake-vs-proof-of-work">underscores environmental concerns</a> usually associated with <keyword id="12068706" type="UNKNOWN" weightage="60" keywordseo="digital-assets" source="Orion">digital assets</keyword>."Binance will be working closely with YG to create an eco-friendly ecosystem for NFTs. YG is a global entertainment corporation with global influence, and we believe that it is important to promote the use of sustainable blockchain platforms," <a href="https://www.prnewswire.com/news-releases/binance-announces-strategic-partnership-with-yg-entertainment-301476580.html">Binance said in a statement</a> outlining its memorandum of understanding with YG. Financial details of the partnership were not included. Binance will provide the <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> platform and technology infrastructure and YG — whose groups also include iKON, Treasure and Winner — will supply NFT content and gaming assets, with YG working to extend its growth in the NFT market. The Binance NFT platform uses the PoSA, or Proof of Staked Authority, network, which Binance said is a consensus agreement protocol that is more eco-friendly and energy-efficient than <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>. "Creating NFTs in an eco-friendly way is one of the considerations that Binance and YG emphasize during the collaboration," said Binance. Grammy-nominated K-Pop boy band BTS in December moved ahead with plans to <a href="https://markets.businessinsider.com/news/currencies/bts-nft-crypto-kpop-after-agency-signs-deal-korea-exchange-2021-11?utm_medium=ingest&amp;utm_source=markets">produce NFTs </a>despite immense public backlash because of environmental concerns. "We believe NFTs have the potential for expansion and hope they will provide fans with more varied experiences and opportunities to express themselves," John Kim, project lead of HybeAmerica that oversees the NFT business, <a href="https://markets.businessinsider.com/news/currencies/bts-nft-crypto-photocard-hybe-dunamu-backlash-non-fungible-token-2021-12">told The Wall Street Journal. </a>Binance and YG also plan to develop Binance Smart Chain-based games, build metaverse assets, and "actively pursue" various digital asset opportunities. YG has "immense potential" to develop digital assets using their intellectual property rights, said the statement. Blackpink and BTS are part of the so-called Korean Wave of mega-growth in the popularity of Korean entertainment and culture. Blackpink's "How You Like That" dance video this week <a href="https://www.youtube.com/watch?v=32si5cfrCNc&amp;t=11s">surpassed 1 billion views on YouTube</a>, according to <a href="https://www.billboard.com/music/pop/blackpink-how-you-like-that-1-billion-youtube-views-1235027946/">Billboard</a>, the sixth Blackpink video to reach that high mark.

Binance and the record label behind K-Pop sensation Blackpink will work on creating eco-friendly NFTs

<ul class="summary-list"><li>Rep. Brad Sherman joked about a hypothetical <keyword id="12704252" type="UNKNOWN" weightage="60" keywordseo="mongoose-coin" source="Orion">mongoose coin</keyword> upending the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> world. </li><li>His jab spurred several versions of a mongoose coin trading on various platforms.</li></ul>The <a href="https://markets.businessinsider.com/news/currencies/texas-congressman-crypto-exchanges-coinbase-ftx-babe-ruth-2021-12">Congressional hearing on crypto</a> spurred a new meme cryptocurrency: mongoose coin.On Wednesday, the <keyword id="12314145" type="UNKNOWN" weightage="60" keywordseo="house-financial-services-committee" source="Orion">House Financial Services Committee</keyword> questioned six crypto leaders about the benefits and challenges of digital assets. FTX Chief Executive Officer Sam Bankman-Fried and Coinbase CEO Alesia Jeanne Haas testified at the hearing, along with the heads of Bitfury, Circle, Paxos Trust Company, and Stellar Development Foundation.<a href="https://www.youtube.com/watch?v=h3o2ATETwBY">In his line of questions</a>, Rep. Brad Sherman, a California democrat, said <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> themselves are the No. 1 threat to crypto. "Bitcoin could be replaced by ether which could be replaced by doge," he said. That, he said, "could be replaced by hamster coin and then there's cobra coin.""What could mongoose coin do to crypto coin?" He joked. A Mongoose — an African animal that can get as long as 2 feet — is known for living in burrows and eating other animals, including cobra snakes.Following his remarks, several mongoose coins started trading on platforms including Polygon, Avalanche, and Binance Smart Chain. <a href="https://decrypt.co/87904/congressional-hearing-spawns-mob-mongoose-based-meme-coins">Decrypt</a> and <a href="https://mashable.com/article/mongoose-coin-cryptocurrency-congressional-hearing">Mashable</a> first reported the news. On <a href="https://polygonscan.com/token/0xc3e35245040375c5939c0139b18c588d75cb5873">Polygon</a> and <a href="https://coinalpha.app/new-born/0xfa4edd8afdd538c4a7aed5c9f44777c99d021383">Binance Smart Chain</a>, the supply was approximately "69,420,000," a popular meme finance number. Some of the coins saw a price surge before dropping back down. Mongoose coin follows a long line of meme tokens. Likely the most well-known meme coin, boosted by Tesla CEO Elon Musk, is dogecoin. Following dogecoin came shiba inu coin. Some, like Squid Game coin based on the Netflix hit show, have been scams."Will mongoose coin always have a value?" Sherman said at the hearing. "I don't know. I just made it up. It's a joke. Although I said that about hamster coin, and then I found out there really was a hamster coin. It's not fair to compare fiat currencies' current system to what cryptocurrencies aspire to be."

A California democrat's joke during Wednesday's crypto hearing has spurred the creation of 'mongoose coin'

<ul class="summary-list"><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> exchange BitMart suspended withdrawals Sunday after hackers ran off with $196 million from wallets. </li><li>Sheldon Xia, BitMart's CEO, said on Monday the crypto was taken using a stolen private key. </li><li>Crypto fraud is on the rise. The BXH exchange lost $139 million last month after an admin key was leaked.</li></ul>Close to $200 million in cryptocurrencies has been stolen from wallets from the BitMart exchange using a stolen private key, according to the company's chief executive. On Monday BitMart's CEO Sheldon Xia said that they discovered that the cryptocurrencies were withdrawn using a <a href="https://twitter.com/sheldonbitmart/status/1467722437735428098">stolen</a> private key which usually enables a user to access their <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword>."We have identified a large-scale security breach related to one of our ETH (ether) hot wallets and one of our BSC (binance smart chain) hot wallets, " Xia said on <a href="https://twitter.com/sheldonbitmart/status/1467316252855226368">Twitter</a>.PeckShield inc, a data analytics company said on Twitter Sunday $100 million was taken from the <a href="https://twitter.com/peckshield/status/1467302620000043013">ethereum network</a> and $96 million from the <a href="https://twitter.com/peckshield/status/1467310381073047552">binance smart chain</a> blockchain. The assets affected included meme coins floki inu and shiba inu, among several other altcoins. PeckShield inc. said that the money was stolen <a href="https://twitter.com/peckshield/status/1467318513971118083">using</a> a "pretty straightforward: transfer-out, swap, and wash" technique. After getting the funds out of BitMart, the hackers may have used a decentralized exchange aggregator to swap the stolen tokens for ether, according to PeckShield's tweet. Then the hacker could have deposited the funds into a privacy protocol, which makes the money difficult to trace.Xia had said on Twitter Sunday approximately $150 million was<a href="https://twitter.com/sheldonbitmart/status/1467316252855226368"> stolen </a>from the centralized global exchange that is based in the Cayman Islands and BitMart suspended withdrawals from its crypto wallets. He has since said the company hopes to gradually <a href="https://twitter.com/sheldonbitmart/status/1467722815071739909">resume</a> the deposit and withdrawal functions on December 7. Xia also said BitMart will use its own funding to <a href="https://twitter.com/sheldonbitmart/status/1467722582845702149">compensate</a> affected users and they were talking to project teams about the most reasonable solutions such as token swaps. BitMart is not the only exchange to be hacked using a private key. In early November, $139 million was taken from the Boy X Highspeed, decentralized cross-chain exchange. The company's CEO Neo Wang told CoinDesk this was due to a leaked administrator key and was probably an<a href="https://www.coindesk.com/tech/2021/11/01/139m-bxh-exchange-hack-was-the-result-of-leaked-admin-key/"> inside job</a>. Last week, the <a href="https://www.youtube.com/watch?v=IrRC8KDBSww">Celsius</a> Network's CEO Alex Mashinsky said the crypto lending platform had lost $120 million from a hack on BadgerDAO, a decentralized finance platform.In August, more than $600 million worth of cryptocurrencies was stolen from the poly network, but nearly half of the <a href="https://markets.businessinsider.com/news/currencies/poly-network-crypto-hackers-return-half-600-million-stole-defi-2021-8">money</a> was later returned.

BitMart suspends withdrawals after hackers drained almost $200 million in cryptocurrencies using a stolen private key

<ul class="summary-list"><li>Sheldon Xia, the founder of BitMart <keyword id="12092828" type="UNKNOWN" weightage="60" keywordseo="exchange" source="Orion">exchange</keyword> said on Twitter that withdrawals will be resumed "step by step". </li><li>Xia said the company would resume deposits and withdrawals for ETH and related tokens from late Tuesday. </li><li>On Saturday, $196 million was stolen from BitMart users' <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> wallets.</li></ul><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> exchange BitMart said early on Wednesday it would gradually resume withdrawals, three days after hackers ran away with close to $200 million worth of funds from its clients' cryptocurrency wallets. Sheldon Xia, BitMart founder, said via a <a href="https://twitter.com/sheldonbitmart/status/1468394715125096449">Twitter</a> post that the exchange would resume deposits and withdrawals for <keyword id="11896271" type="UNKNOWN" weightage="60" keywordseo="ether" source="Orion">ether</keyword> and related tokens. Deposits were set to resume from 10 pm and 11 pm EST Tuesday. "The deposit and withdrawal function of all tokens will be resumed step by step, along with the recovery progress of security testing and public chain development," Xia <a href="https://twitter.com/sheldonbitmart/status/1468459345465823239">tweeted</a>. "No worries, we are marching forward, security will always be the first priority."BitMart, which is based in the Cayman Islands, also told its clients <a href="https://support.bmx.fund/hc/en-us/articles/4412257835035--Important-Notice-BitMart-Security-Upgrade-New-Deposit-Addresses">Tuesday </a>that it was hosting a security upgrade and replacing all deposit addresses including <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword>, ether, <keyword id="12045888" type="UNKNOWN" weightage="60" keywordseo="sol" source="Orion">sol</keyword>, and all other tokens.On Saturday, BitMart said in a <a href="https://bitmart-exchange.medium.com/bitmart-response-to-security-breach-71ccc2200285">blog post</a> it had identified a security breach related to two of its hot wallets. Up to $198 million was <a href="https://markets.businessinsider.com/news/currencies/bitmart-crypto-hack-exchange-suspends-withdrawals-stole-millions-floki-shiba-2021-12">taken</a> from wallets on the ethereum network and the binance smart chain blockchain using private keys that the culprits had gained access to. The exchange had said it will use its own funding to <a href="https://twitter.com/sheldonbitmart/status/1467722582845702149">compensate</a> affected users. BitMart is not the only exchange to be hacked using a private key. In early November, $139 million was stolen from the Boy X Highspeed, decentralized cross-chain exchange. Neo Wang, the company's CEO told CoinDesk this was due to a <a href="https://www.coindesk.com/tech/2021/11/01/139m-bxh-exchange-hack-was-the-result-of-leaked-admin-key/">leaked</a> administrator key. In August, more than $600 million worth of cryptocurrencies was stolen from the <keyword id="11900149" type="UNKNOWN" weightage="60" keywordseo="poly-network" source="Orion">poly network</keyword>, but nearly half of the <a href="https://markets.businessinsider.com/news/currencies/poly-network-crypto-hackers-return-half-600-million-stole-defi-2021-8?utm_medium=ingest&amp;utm_source=markets">money</a> was then returned.

BitMart says it's resumed crypto withdrawals three days after hackers stole almost $200 million in funds

<ul class="summary-list"><li>Cyber hackers on Wednesday returned nearly half of the $600 million they stole from <keyword id="11834434" type="UNKNOWN" weightage="60" keywordseo="poly-network">Poly Network</keyword>.</li><li>The return of funds came amid pleas from the Poly Network for the money back.</li><li>The hackers said they stole the funds "for fun :)" because "cross-chain hacking is hot."</li></ul>Cyber hackers returned nearly half of the $600 million they stole from <keyword id="4164994" type="PERSON" weightage="60" keywordseo="defi">DeFi</keyword> platform Poly Network, in what is considered one of the biggest cryptocurrency heists in history.Around $260 million has been returned as of Wednesday noon, Poly Network said in a <a href="https://twitter.com/PolyNetwork2/status/1425509322126024708">tweet</a>.Of the funds given back, $3.3 million were in ethereum, $256 million in Binance smart chain, and $1 million in polygon, according to the post.The return of funds follows <a href="https://twitter.com/PolyNetwork2/status/1425123153009803267/photo/1">pleas</a> from Poly Network on Tuesday, <a href="https://markets.businessinsider.com/news/currencies/poly-network-hack-defi-crypto-theft-cryptocurrency-hacker-2021-8">asking the hackers</a> for the money back and urging cryptocurrency exchanges and miners to halt tokens from the hacker's wallets."The amount of money you hacked is the biggest in defi history," Poly Network said in a <a href="https://twitter.com/PolyNetwork2/status/1425123153009803267/photo/1">tweet</a> Tuesday, adding that tens of thousands of people were negatively impacted.The hackers responded on Wednesday, saying they were "ready to return" the funds they stole. It is unclear when they plan to return the whole sum.Around $269 million on ethereum and $84 million on polygon remain with the hackers, according to the Poly Network tweet.The hackers said they stole the funds "for fun :)" because "cross-chain hacking is hot," according to a <a href="https://www.linkedin.com/feed/update/urn:li:activity:6831256334344736768/">Q&amp;A session</a> that was embedded in ethereum transactions sent from the account holding the stolen assets.The screenshots of the exchange were obtained by Tom Robinson, cofounder of Elliptic, a blockchain analytics and compliance company."The Poly network is a decent system," the hackers said. "It's one of the most challenging attacks that a hacker can enjoy." The hackers said they took the funds after spotting a bug "to keep it safe."The cyberattack on Poly Network joins a growing number of attacks on the rapidly growing DeFi space.Thus far, DeFi hacks made up over three-quarters of cryptocurrency money seizures this year, according to a <a href="https://ciphertrace.com/cryptocurrency-crime-and-anti-money-laundering-report-august-2021/" target="_blank" rel="noopener">report</a> by intelligence firm Ciphertrace.Read more: <a href="https://www.businessinsider.com/how-to-mine-bitcoin-tips-profitable-lightning-network-node-crypto-2021-8" target="_blank" rel="noopener">A key bitcoin lightning network developer shares how he makes $4,500 a month just in fees from running a node. He and 3 other crypto experts lay out how to run profitable nodes.</a>

You Searched For "binance smart chains" and got 8 results

Binance coin's massive 1,300% gain in 2021 beat both bitcoin and ether, cementing its spot as the world's 3rd-biggest crypto

Isabelle Lee

Crypto blockchain hackers have stolen almost $700 million in just 3 months this year, with solana and Binance smart chain hit hard

Hamza Fareed Malik

Binance bets on a gaming NFT metaverse where players can mate their pet sharks

Camomile Shumba

Binance and the record label behind K-Pop sensation Blackpink will work on creating eco-friendly NFTs

Carla Mozée

A California democrat's joke during Wednesday's crypto hearing has spurred the creation of 'mongoose coin'

Natasha Dailey

BitMart suspends withdrawals after hackers drained almost $200 million in cryptocurrencies using a stolen private key

Camomile Shumba

BitMart says it's resumed crypto withdrawals three days after hackers stole almost $200 million in funds

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Cyber hackers have returned nearly half of the $600 million they stole from DeFi platform Poly Network

Isabelle Lee

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