The OracleBNB project on the BNB Chain has reportedly suffered a rug pull, according to blockchain security firm PeckShield. Following the sudden collapse, the project team wiped all their social media accounts, leaving investors puzzled and worried.
Price soars before crashing
The token’s price chart showed wild fluctuations, pointing to a likely pump-and-dump scenario. In just one day, OracleBNB’s price jumped by 1,280%, probably driven by coordinated buying, before crashing sharply when the tokens were quickly sold off.
A small consolidation at the end of the chart indicates the market is attempting to stabilize after the sudden price spike.
BNB Chain restores official X account after breach
In a separate incident, BNB Chain confirmed that its official X account was fully restored on October 1 following a security breach. “We’re back! The team has regained full access of the @BNBCHAIN account,” the platform announced.
The root cause of the breach is still under investigation, but the platform assured that the estimated $8,000 in losses would be fully reimbursed to victims.
Breach details
BNB Chain said the attack happened through several phishing attempts and the use of a malicious contract. In total, 10 phishing links were shared, leading to losses of $8,000 across various chains. One user was hit the hardest, losing $6,500.
This is a developing story.
