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Daily Digest | Calling all blockchain sleuths

Written by The Uptake Published on   1 min read

USD 139 million in digital assets needs to be tracked down.

Hiya, Brady here.

One of the fundamentally innovative things about decentralized finance is that there are intelligent people trying to figure out how to build financial systems from scratch, so that those with less means and influence have a seat at the table. The consequence is that some of those things break in the process, or people lose their investments when i’s aren’t dotted and t’s aren’t crossed.

Consider BXH, or Boy X Highspeed, a cross-chain trading platform. It lost USD 139 million on October 30. Or, more accurately, a hacker or hackers stole digital assets that are worth that much.

Those behind the exploit seem to have gotten a hold of an administrator’s private key to break into the exchange’s Binance Smart Chain address. BXH’s CEO thinks it might have been an inside job.

The bounty for hunting down the hacker(s) is now USD 10 million. Stephanie wrote about it. You can read the article here.

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