Binance Chain hacked for ~2M BNB ($600M USD)

Story is breaking, but there is more detail here:

https://www.reddit.com/r/bnbchainofficial/comments/xxjkpy/te...

damn..that's so much money. And they will be able to cash out of it when the inevitable question comes up of what they will do with the loot, enough to live comfortably even if they cannot cash out all of it.

They won't be able to cash out. This is Binance's internal coin, the value is generated by Binance owning it and the demand comes mostly from their economy. The most realistic (albeit cowardly) solution is to amend the ledger and fork into a new crypto.

Yet another instance of cryptocurrency proving it's inefficacy, that's all.

I doubt it. This is still tiny relative to binance's assets and the overall size of BNB. Binance and BNB stands to lose more from reputational damage from censorship than lost due to the hack.

Looks like they managed to cash out around $200M off Binance chain.

I'm actually pretty wowed by that.

Beyoncé

Every single time I read that, my stupid brain swaps it out for Beyoncé