World's largest cryptocurrency exchange is hacked for $100 million

Binance, the world's largest cryptocurrency exchange, may have lost more than $100 million following a hack of its Binance Smart Chain network.

A Reddit post by Binance discussing the incident said the company temporarily suspended transactions and the transfer of funds after detecting an exploit between two blockchains, a method of digital theft that has been used recently in at least one other major hack.

"The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly," CEO Changpeng Zhao said in a tweet.