News Briefs (2022-10-08)

Blockchain
hit by $570m
crypto hack
LONDON: A blockchain linked to Binance, the world's largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year. Binance CEO Changpeng Zhao said in a tweet that tokens were stolen from a blockchain "bridge" used in the BNB Chain, which was known as Binance Smart Chain until February. Blockchain bridges are tools used to transfer cryptocurrencies between different applications. Zhao said the hackers stole around $100 million worth of crypto. BNB Chain later said in a blog post that a total of 2 million of the cryptocurrency BNB - worth around $570 million - was withdrawn by the hacker. Blockchain bridges have increasingly become the target of thefts, which have long plagued the crypto sector. — Reuters

Indian shares
end lower
BENGALURU: Indian shares ended a tad lower on Friday, weighed by consumer and technology stocks, ahead of a major US jobs report that will likely feed into the Federal Reserve's rate hike strategy. The NSE Nifty 50 index closed down 0.1 per cent at 17,314.65, while the S&P BSE Sensex ended mostly flat at 58,191.29. The rupee sank to a new low against the dollar. The Nifty and Sensex recorded first weekly gain in four, rising over 1 per cent, each. The World Bank trimmed India's growth forecast for this financial year by a full percentage point, as rising commodity prices and debt-trouble hit economies in South Asia. Meanwhile, the monthly US jobs report on Friday will give a fresh indication of inflation pressures in the country. — Reuters