DeFi hacks on Binance Smart Chain rise as TVL and volumes increase While Binance Smart Chain expands its footprint, hacks on DeFi protocols housed on the network increase hand in hand. 38191 Total views Follow up
Binance Smart Chain, or BSC, was launched in September 2020 as a parallel blockchain to Binance Chain. It enabled the creation of smart contracts and a staking mechanism for the native token of both blockchains, Binance Coin (BNB).
In its brief nine-month existence, there have been a lot of decentralized finance, or DeFi, projects built on it, but there have been numerous instances of hacks on the blockchain’s protocols as well.