Modular Bitcoin scaling solution B² Network has become the latest victim in a wave of crypto exploits, losing approximately 8.59 million B2 tokens valued at around $3.86 million.
The incident, which occurred on the BNB Chain, saw attackers drain the funds before converting them into 5,409 Wrapped BNB (WBNB) worth roughly $3.11 million.
The stolen assets were subsequently bridged to Ethereum and are currently being laundered through NEAR Intents en route to Zcash, a privacy-focused blockchain that obscures transaction trails, according to blockchain security investigator Specter.
In a response to the incident, the B² Network team attempted to negotiate directly with the perpetrators via an on-chain message. The team stated that if the attackers returned at least 10% of the stolen funds—approximately $386,000—to the official address within 24 hours, the act would be interpreted as a gesture of goodwill and no legal proceedings would be initiated.
Further investigation by blockchain analysts revealed a troubling detail that suggests the exploit may have involved compromised internal credentials or an inside actor. The wallet responsible for draining the tokens had been granted the necessary privileged role since 2025, and this access was revoked only after the unauthorized transfer had already taken place.
This timeline has raised questions about access controls and internal security protocols within the project, with observers noting that the delay in revoking permissions points to a serious operational oversight.
In an official statement, B² Network confirmed that the breach targeted its B2 token staking service, specifically involving unauthorized access to the staking contract’s upgrade authority. As a precautionary measure, the team has temporarily suspended all B2 staking operations while comprehensive security reviews are underway.
The team emphasized that the incident has been contained and that no further impact is anticipated. Crucially, B² Network has pledged to fully compensate all affected users. Those wishing to unstake their tokens were directed to submit requests through the project’s official Discord channel, with processing expected within one business day following ownership verification.
The B² Network exploit was one of three major attacks recorded on the same day, contributing to a combined daily loss of $35.55 million across the industry, according to Lookonchain. Decentralized trading platform AFX Trade suffered a $24.15 million breach, while the Verus Ethereum bridge was exploited for $7.55 million, highlighting the persistent security challenges facing the digital asset ecosystem.
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