Arkham: The BNB Bridge attacker still has over $124 million in debt, which can be liquidated again when BNB drops to $211

ChainCatcher news, the blockchain data analysis platform Arkham tweeted that BNB Chain has recently begun liquidating the accounts of the BNB Bridge hacker. Last year, the BNB Bridge hacker exploited a vulnerability to steal 2 million BNB tokens from BNB Chain's Token Hub. The hacker did not sell the assets but instead deposited 900,000 BNB into Venus Protocol, borrowing nearly $150 million in stablecoins. Since October 2022, the hacker has maintained this position for nearly a year without interacting with the Venus contract. Before the liquidation, their account still held $204.1 million worth of BNB on Venus.

As a result, the core team of BNB Chain proposed to the Venus management to take over the hacker's debt. Arkham stated that the BNB Chain team previously transferred $60 million to the BNB Bridge hacker's liquidation account, and due to BNB's price dropping below $220 for the first time on Thursday, the position entered liquidation status. The team liquidated $30 million of debt through three separate transactions, thereby recovering 146,150 stolen BNB. The current balance of the liquidation account is $30 million, which will be used to pay off more debt, with the total debt still exceeding $124 million. The team will conduct another liquidation when the BNB price drops to $211.