In an official Twitter post, Binance-backed BNB Chain informed that its BNB Smart Chain (BSC) has been working well after the recent temporary pause due to irregular activity on it.
Earlier today, the BNB Chain team tweeted that due to irregular activity they were temporarily pausing BSC.
In detail, there were speculations that over $700 million in BNB tokens were reportedly stolen from the cross-chain bridge. Earlier, the BSC team alerted on Reddit that initial estimates for funds “taken off BSC are between $100M-$110M.”
Additionally, Binance CEO Changpeng Zhao had tweeted about the issue saying:
The BSC validators had been coordinating to restore the BNB Smart Chain since the temporary cease, and the team released its hot fix hardfork BSC v1.1.15 on GitHub. The official release read that several blacklisted addresses are prohibited for further transactions due to the exploit. Therefore, the team requested all the clients to upgrade to BSC v1.1.15.
Additionally, before the current working mode, all the cross-chain transfers were stopped and transactions were requested to be done using central exchanges. The BNB team also asked the users to upgrade to the new version by downloading binary on the release page and stopping the running nodes.
Also, users have to replace their old binary with the new one and restart the node with the new binary.
At press time, BNB was trading at $284.4 and is over 3.5% down in the past 24 hours.
The post Binance’s BNB Smart Chain Works Perfect After Temporary Suspension appeared first on Coin Edition.
See original on CoinEdition
Source: Cryptocurrency - investing.com
