How Someone Stole 60 ETH Following the BNB Chain Hack

The past 24 hours have been quite tumultuous, with one of the largest blockchain networks, BNB Chain, suffering a security breach that saw millions of cryptocurrencies compromised.

And while the process of freezing and recovering the stolen assets is underway and the network is back to normal, someone took the opportunity to pull off another scam.

Enter the BNB HACK INU token

BNBHACKINU, a token created in clear reference to both the recent hack of the BNB chain and the popular dog-themed memecoins, becomes the latest scam pulled by perpetrators to steal crypto from innocent people.

The delivery of the information was a Twitter user with the name of Internet WHO detailed how it all went down According to him, the hacker responsible for exploiting the BNB chain, created a token called BNBHACKERINU, just two hours after the initial exploit.

Because of the way the smart contract was coded, he was able to mint an arbitrary number of tokens and add them to the owner’s balance. After that, the author called three more functions that allow the owner to take BNBHACKINU tokens out of any holder’s wallet and transfer them to any other wallet.

At this point, I knew it was definitely a rug waiting to be passed. The owner was constantly calling these methods and each time the stolen tokens were sent to a new wallet with 0 ETH. I only went through a few of the transactions, but of the new wallets I looked at, there were over 7 million BNBHACKINU tokens in all of them.

The owner then proceeded to mint 1 quadrillion tokens, which immediately destroyed the price. Once robust, the authors had enough BNBHACKINU tokens to sell for a profit of around 60 ETH.

It is also worth noting that there is another token that follows these credentials and goes by the ticker HACKERSHIBA.

He may not be the BNB chain hacker

ZachXBT responded to the thread, pointing out that it was not the exploiter (read: BNB chain hacker) who created the scam token.

It was not created by the exploiter. It’s literally just someone faking it to make it look like the exploiter did it. Happens after most major feats. – He said.

Spoofing is a trick some hackers use to trick unsuspecting users into thinking the “From” address was created by that address. This is possible thanks to the wider ERC-20 standard design and transparent data visualization of the block explorer.