BNB Chain enlists ZachXBT to help with investigation efforts

Crypto investigator ZachXBT will support BNB Chain in its efforts to tackle exploits and on-chain crime.

BNB Chain is strengthening its security oversight capabilities by enlisting a familiar face. On Wednesday, Nov. 5, BNB Chain announced that it will collaborate with on-chain sleuth ZachXBT. The investigator will help illicit activity and help improve transparency across its ecosystem.

“Keeping Web3 safe takes more than tech; it takes people who care enough to trace every lead. Zachxbt is now supporting the BNB Chain community to help keep the ecosystem cleaner, fairer, and more transparent,” BNB Chain wrote.

ZachXBT is well-known for its in-depth investigations of hacks and exploits. In response to the BNB Chain’s announcement, ZachXBT stated that he would soon publish the results of an investigation into an exploit. Still, he did not clarify what the exploit was, and if it was linked to the BNB ecosystem.

BNB ecosystem hit by exploits

The BNB ecosystem has seen several exploits over the past few months, resulting in limited losses. Most recently, on October 1, an attacker stole $13,000 from several users after taking control of their X accounts. BNB Chain compensated all the affected users.

Earlier, BNB Chain’s New Gold Protocol suffered a $2 million hack on September 18, the same day it launched. The hacker exploited flaws in the protocol’s smart contract, especially related to pricing rules. This enabled the hackers to secure a flash loan and steal the funds.

The BNB ecosystem suffered its worst exploit in 2022, when an attacker stole $570 million worth of BNB from the BSC Token Hub cross-chain bridge. The bridge connected the BNB Beacon Chain and the main BNB Chain.