Binance published its 21st quarterly BNB token report. This quarter, about 2.065 million BNB tokens were sent to a dead wallet as part of the auto-burn process. The estimated value of the burned tokens is $574.9 million.
A $570 million attack on the Binance-linked blockchain caused another jolt in the cryptocurrency market.
Burn of BNB token
Just after the significant attack, Binance published its 21st quarterly BNB token report. This quarter, about 2.065 million BNB tokens were sent to a dead wallet as part of the auto-burn process. The estimated value of the burned tokens is $574.9 million.
The 20th quarterly burn, which was estimated to be around 1.96 million BNB back in July, will be greater than the 21st. It was mentioned that 4,833.25 BNB from the most recent quarterly burn were sent to the dead wallet via another burn programme.
In the past 24 hours, the price of the BNB coin has decreased by 4% on the market. At the time of publication, the average price for BNB coin is $259.74. Its 24-hour trading volume has increased by 56% to about $896.2 million, nevertheless.
What follows a significant hack?
However, this update was released immediately following a hack on Binance's blockchain. The tokens were taken from a blockchain "bridge" utilised in the chain, according to CZ, CEO of Binance. According to reports, hackers took 2 million BNB tokens, which are estimated to be worth $570 million.
According to reports, the hacker's wallet address still held the majority of the BNB. However, a discovery worth about $100 million may be made. The BSC provides support for the BNB tokens.
The fifth-largest cryptocurrency is BNB token, which hackers have recently turned their attention to. Its market capitalization is about $42 billion. While it has 161.33 million copies in circulation.
Earlier, CoinGabbar revealed that Terra Classic will continue to receive support from Binance. In the Binance Loan service, the cryptocurrency platform added TerraClassicUSD (USTC) as a borrowable asset.
