B² Network on BNB Chain Attacked, Losing Approximately 8.591 Million B2 Tokens (About $3.86 Million)
B² Network Hacked
B² Network on BNB Chain was attacked, resulting in a loss of approximately 8.591 million B2 tokens (about $3.86 million).
The attacker exchanged the tokens for 5,409 WBNB (about $3.11 million) and then cross-chained to Ethereum, currently transferring funds to Zcash via NEAR Intents.
Team's On-Chain Message
The team contacted the attacker, stating that if at least 10% of the stolen funds (about $386,000) are returned to the official address within 24 hours, it will be considered a good faith gesture and no legal action will be initiated.
Market Mechanism
Driven by the hacking incident, the attacker’s funds are flowing to the privacy chain Zcash, and the cash-out pressure has put B2 tokens under strain, damaging short-term trust in B² Network and BNB Chain ecosystem projects, benefiting security audit service providers.
Source: Public Information
ABAB AI Insight
B² Network, previously a Bitcoin Layer 2 project, relied on BNB Chain liquidity. This attack exposed cross-chain and contract security vulnerabilities, similar to past bridge or DeFi flash loan incidents. The team's rapid on-chain negotiation reflects a common industry approach to handling hacking events.
In terms of capital flow, the attacker utilized NEAR Intents and other intent-based infrastructures for cross-chain hidden transfers, motivated by maximizing anonymous cash-out. The project team aims to control losses within an acceptable range by offering partial refunds to avoid further legal and reputational damage.
Similar to the Ronin bridge or past DeFi hacking negotiation refund cases, B² Network is currently in the expansion phase of Bitcoin Layer 2 and multi-chain DeFi, with frequent security incidents highlighting the immaturity of the infrastructure.
Structural Judgment
This fundamentally relates to regulatory changes and industrial chain restructuring. Hackers use privacy tools and cross-chain intent mechanisms to evade tracking, prompting project teams and on-chain governance to shift towards stronger audit and insurance coverage. The mechanism lies in the coexistence of anonymity in crypto assets and the difficulty of law enforcement, driving capital from high-risk new projects towards mature and secure protocols, while accelerating the industry's transition towards compliance and insurance.
ABAB News · Law of Cognition
The speed of hackers is always faster than patches; a 10% refund is the industry default settlement price.
Privacy chains are the final destination for funds; anonymity equals survival.
Security is not a cost but the basis for pricing power of project sustainability.