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Did BNB Chain overcome its security challenges in Q3?

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Many things can be said about the crypto sector. But one thing that people cannot deny is the fact that the evolution of the ecosystem has given rise to unimaginable opportunities for newbies and experienced participants alike.

Amid the pros, there is also no denying that the industry has bad eggs that have made it their mission to dilute the good work of other players. So, it is almost impossible not to experience scams, hacks, and rug pulls here and there.

That leads us to the third quarter (Q3) report, in which we assess BNB Chain’s security performance.

But before diving into that, let’s give a quick breakdown of what a rug pull is. A rug pull happens when a fraudulent developer hypes a cryptocurrency project, attracts investment, and then disappears with the funds later on.

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Such events have been one of the reasons blocking the adoption rate of the crypto ecosystem. Because of this, it is important to evaluate what different chains are doing to reduce these recurring incidents.

As mentioned earlier, this article will focus on the BNB Smart Chain (BSC). The BNB Chain is the largest smart contract blockchain in terms of transaction volume and active users. This is because the chain is compatible with several protocols that want to build smart contract applications.

According to the Q3 security report by blockchain firms AvengerDAO and HashDit, the loss of funds via the BNB has significantly reduced when compared with the figures in 2022. AMBCrypto’s evaluation of the report revealed that there was notable improvement between Q2 and Q3 2023.

Financial losses on the BNB Chain in Q3 2023

Source: AvengerDAO and HashDit

Details from the data above showed that fiat losses in Q2 were as high as $69.56 million. In Q3, the value fell to $43.57 million. One of the reasons the losses reduced was because of some things put in place by the protocol.

For instance, in August, the BNB Chain went under two hard forks, namely the Plato and Hertz upgrade. A hard fork is a change in the protocol of a blockchain bound by a software update.

Both Hertz and Plato were implemented to reduce the possibility of malicious attacks and increase BNB Chain’s compatibility with other Ethereum [ETH] Virtual Machines.

As a result, there was a 75% drop in scams recorded on the chain. Also, the number of hacks decreased by 43%, with BNB Chain saying:

“This can be attributed to the fact that Web3 Security companies and on-chain sleuths are monitoring transactions ever so closely. Hence, hackers are deterred from being blackhat as they might be traced to their real identity.”

When also compared with other chains, the report found that BNB Chain performed excellently. Take for example, out of all the chains, Ethereum and Tron [TRX] reported a combined 70% of all scam incidents.

BNB Chain, on the other hand, had 30% fewer incidents than Ethereum in the quarter. However, throughout the year till press time, the BNB Smart Chain accounted for the highest number of cases.

Hack incidents on the BNB Chain

Source: AvengerDAO and HashDit

According to the report, most of the Q3 losses incurred on the chain happened in September. This was followed by July, then lastly, August. In total, there were 126 incidents, of which 64.20% were scams and 35.71% were hacks.

MEV-related projects were the most attacked on the chain, followed by GameFi and Gambling projects. The report also took note of the top 10 hacks and scams that happened there. Some of these include a $6.2 million loss on CoinEx.

Sectors affected by BNB Chain hacks

Source: AvengerDAO and HashDit

Realistic or not, here’s BNB’s market cap in ETH’s terms

Another major one was the $17.8 million loss on Stake.com. Stake.com is a crypto-gambling protocol offering users the ability to bet across a variety of games.

Although there were others, the BNB Chain Core Development Team said it was working hard to ensure that the reduction in hacks and scams continues. Speaking to AMBCrypto, the team agreed with the report, saying:

“Hashdit and AvengerDAO committees are at the forefront of crypto security and have seen a steady increase in users and integration with major ecosystem players. They are contributing greatly to the Web3 ecosystem and crypto community with these reports, empowering users and developers with essential security knowledge to make informed decisions.”

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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