| Recurring |
one_organization, multiple_organization |
(a) The software failure incident having happened again at one_organization:
The article reports that Binance, a major crypto exchange, was impacted by a $570 million hack involving its BNB Smart Chain. This incident is not the first time Binance has faced security issues. The article mentions that some of the largest thefts this year include Binance's $570 million hack, indicating a recurrence of security incidents within the organization [133973].
(b) The software failure incident having happened again at multiple_organization:
The article highlights that blockchain bridges, like the one targeted in the Binance hack, have increasingly become targets for hackers. It mentions other incidents where bridge services were attacked, such as Nomad losing $190 million, Harmony facing a $100 million loss, and Axie Infinity's Ronin bridge being hacked for $625 million. These examples show that security incidents related to blockchain bridges have occurred at multiple organizations, not just Binance [133973]. |
| Phase (Design/Operation) |
design |
(a) The software failure incident in Article 133973 can be attributed to the design phase. The incident was a result of a $570 million hack on Binance's BNB Smart Chain, which was facilitated by targeting a cross-chain bridge. These bridges, which allow users to exchange crypto assets between different blockchains, have become prime targets for hackers due to the large reserves of various coins they hold. The attack on the BNB blockchain was a direct result of vulnerabilities in the design and infrastructure of the cross-chain bridge, highlighting a failure introduced during the system development phase [133973]. |
| Boundary (Internal/External) |
within_system, outside_system |
(a) within_system: The software failure incident involving the $570 million hack on Binance's BNB Smart Chain was primarily due to factors originating from within the system. The hackers targeted a cross-chain bridge within Binance's blockchain network, allowing them to steal two million BNB cryptocurrency tokens. This indicates a vulnerability or flaw within the system that was exploited by the hackers [133973].
(b) outside_system: The software failure incident was also influenced by factors originating from outside the system. The hackers targeted the cross-chain bridge, which is a component that facilitates the exchange of crypto assets between different blockchains. This external target, along with the increasing trend of hackers targeting bridges in the crypto space, highlights how external factors can contribute to software failure incidents [133973]. |
| Nature (Human/Non-human) |
non-human_actions, human_actions |
(a) The software failure incident in this case was primarily due to non-human actions, specifically a hack on the Binance-linked blockchain resulting in the theft of $570 million worth of BNB cryptocurrency tokens [133973]. The hackers targeted a cross-chain bridge, which is an infrastructure allowing users to exchange crypto assets between different blockchains. This type of attack on the bridge services has been a growing trend, with significant amounts of money being stolen from bridges in recent months [133973].
(b) Human actions were also involved in the response to the incident. Binance temporarily suspended its blockchain network, BNB Smart Chain, in response to the irregular activity caused by the hack [133973]. Additionally, Binance CEO Changpeng Zhao reassured users that their funds were safe and apologized for the inconvenience caused by the theft [133973]. |
| Dimension (Hardware/Software) |
software |
(a) The software failure incident reported in the article is not attributed to hardware issues. Instead, it is related to a major theft involving a hack on Binance's blockchain network, specifically the BNB Smart Chain. The incident involved hackers targeting a cross-chain bridge, which is a software infrastructure that allows users to exchange crypto assets between different blockchains. The hackers exploited this software component to steal two million BNB cryptocurrency tokens worth about $570 million [133973].
(b) The software failure incident in this case is primarily attributed to contributing factors that originate in software, specifically the vulnerability in the cross-chain bridge infrastructure that allowed the hackers to carry out the theft. The temporary suspension of the BNB Smart Chain due to irregular activity and the subsequent theft of cryptocurrency tokens highlight a software-related failure within the blockchain network [133973]. |
| Objective (Malicious/Non-malicious) |
malicious |
(a) The software failure incident in this case is malicious. The incident involved a $570 million hack on Binance's blockchain network, BNB Smart Chain, where hackers stole two million BNB cryptocurrency tokens. The hackers targeted a cross-chain bridge, which is an infrastructure that allows users to exchange crypto assets between different blockchains. This type of attack is considered malicious as it was carried out with the intent to steal funds from the system [133973]. |
| Intent (Poor/Accidental Decisions) |
poor_decisions, accidental_decisions |
(a) The software failure incident related to the Binance hack appears to involve poor decisions made by the hackers who targeted the cross-chain bridge infrastructure. The hackers exploited vulnerabilities in the bridge services, which are crucial for exchanging crypto assets between different blockchains. This attack resulted in the theft of $570 million worth of BNB cryptocurrency tokens issued by Binance [133973].
(b) Additionally, accidental decisions or unintended consequences may have played a role in the software failure incident. Binance temporarily suspended its blockchain network, BNB Smart Chain, due to irregular activity, indicating that the company may have detected unexpected behavior that led to the discovery of the hack. The company's CEO, Changpeng Zhao, reassured users that their funds were safe despite the incident, suggesting an element of unintentional exposure to the security breach [133973]. |
| Capability (Incompetence/Accidental) |
development_incompetence |
(a) The software failure incident related to development incompetence is evident in the article as it mentions the hackers targeting a cross-chain bridge, which is a known infrastructure vulnerability that has been increasingly targeted by hackers in recent months. The article highlights that bridges, which are crucial for exchanging crypto assets between different blockchains, have become prime targets for heists due to their large reserves of various coins. This indicates a failure in the development or implementation of secure systems to protect these critical components of the blockchain ecosystem [133973].
(b) The software failure incident related to accidental factors is not explicitly mentioned in the article. |
| Duration |
temporary |
(a) The software failure incident in this case was temporary. Binance temporarily suspended its blockchain network, BNB Smart Chain, due to irregular activity caused by the hack [133973]. The chain was offline for about nine hours before being back up and running around 2:30 a.m. ET [133973]. |
| Behaviour |
crash, other |
(a) crash: The software failure incident in the article can be categorized as a crash. The Binance-linked blockchain, BNB Smart Chain, was temporarily suspended due to irregular activity following a $570 million hack. This led to the blockchain being offline for about nine hours, during which it was not performing its intended functions [Article 133973].
(b) omission: There is no specific mention of the software failure incident being caused by the system omitting to perform its intended functions at an instance(s) in the article.
(c) timing: The software failure incident is not related to the system performing its intended functions correctly but too late or too early.
(d) value: The failure of the software incident is not due to the system performing its intended functions incorrectly.
(e) byzantine: The software failure incident does not exhibit the behavior of the system behaving erroneously with inconsistent responses and interactions.
(f) other: The other behavior exhibited in this software failure incident is related to a security breach leading to a significant theft of cryptocurrency tokens. Hackers targeted a cross-chain bridge, which is a crucial infrastructure for exchanging crypto assets between different blockchains. This breach resulted in the theft of two million BNB cryptocurrency tokens worth about $570 million, with $100 million worth of tokens remaining unrecovered. The incident highlights the vulnerability of bridge services to hacking attacks, making them prime targets for heists [Article 133973]. |