Binance: 'Rollbacks' After Hacking DeFi Protocols On Binance Smart Chain Are Not Possible " – Bits Media

Binance announced, that is not responsible for the hacks and vulnerabilities of the DeFi protocols on the Binance Smart Chain blockchain, and cannot carry out "kickbacks" and return the stolen money.

Decentralized finance protocols (DeFi) on the Binance Smart Chain blockchain (BSC) subject to more and more hacks. PancakeBunny's DeFi Protocol Hacked With Instant Loans In May, as a result of which the attackers brought crypto assets to $200 million. Earlier, an attack was made on another Defi protocol on the BSC blockchain - hackers brought tokens tokens from the pharmacy protocol on $11 million.

As the representative of Binance said, So now the situation is developing in the decentralized financing industry, And the exchange can do little, To eliminate the consequences of challenges of protocols. Recall, that according to researchers, Binance retains a significant degree of control over BSC, What makes her much more centralized, than competing blockchains.

“BSC is a non -controlled infrastructure that is publicly available by anyone, Therefore, anyone can launch projects there ", - said the coordinator for business development and ecosystems in Binance itself Karim (Both Karim). “Attackers, Backs and vulnerabilities in Defi are not news, And this situation is definitely not unique for BSC ".

Binance Chain developers launched the main BSC network with the possibility of BNB stake and Defi application development last September. In less than nine months, BSC blockchain has grown significantly and has become one of the most serious competitors of the Ethereum. At the end of April, the number of transactions in BSC was five times higher than the similar indicator of the Ethereum network due to the growth of activity on the Pancakeswap Exchange.

After several hacks of Defi protocols on the BSC, Twitter social network users criticized CEO CEO Chanpan Zhao (Changpeng Zhao) And they demanded, so that the exchange takes responsibility for the vulnerability of applications. When Karim was asked, Can BSC blockchain become more decentralized in the future, He said:

"Our approach is more focused on training and support for the developers ecosystem".

However, Karim said, that I noticed “significant interest” from institutional investors to BSC and Defi, and that his team will focus on the execution of their requests, eg, transaction confidentiality. According to him, Organizations "To ensure the confidentiality of transactions require private pools, Private credit pools or money markets, which have functions, different from that, What do you see today ".