BNB Chain has been halted after one of the biggest BNB holders started displaying erratic on-chain behavior, suggesting a hack.

At around 17:30 UTC the wallet began withdrawing sizeable sums of coins it had staked from various blockchain ecosystems. It subsequently started swapping and borrowing tokens from a multitude of different protocols in a very rapid fashion. The erratic nature of the wallet’s activity suggests it may have been compromised. The BNB Chain’s official Twitter account indicated the chain would be halted due to “irregular activity.”

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For over 30 years, Marin Ivezic has been protecting financial services and critical infrastructure against cyber, financial crime, and regulatory risks. He previously held multiple interim CISO, CRO and technology leadership roles in Global 2000 companies. Since 2013 he has been advising institutions and regulators around the world on safe, secure and compliant adoption of crypto assets and other decentralized technologies.