Bitcoin drops below $20,000 after Binance blockchain hack

The cryptocurrency market plummeted after Binance CEO Changpeng Zhao confirmed the hacking of the Binance Smart Chain network and the theft of $100 million in digital currencies. Developers soon restored the blockchain’s functionality.
According to the CEO of the exchange, hackers managed to gain access to the software through a vulnerability. The attackers’ accounts were quickly frozen, and the transfer of funds between BNB Beacon Chain and BNB Smart Chain was stopped.
Digital currencies reacted in retreat on Friday after reports of a major blockchain hack. Bitcoin fell to $19,583. Ether (ETH) and Binance Coin (BNB) fell to $1336 and $283, respectively.

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