Hacking News
BEAM Burns $6 Million in Stolen Tokens Following Cyber Exploit
Gaming cryptocurrency project BEAM suffered a security breach that resulted in a hacker stealing $6 million worth of tokens. In response to the exploit, the project team utilized an admin panel feature to target the hacker's specific wallet address. The team successfully burned all of the stolen tokens directly from the attacker's wallet, permanently removing them from the token's total supply. This administrative action caused the price of the BEAM token to surge by 50 percent. Market observers described the intervention and supply reduction as a bullish development for the project.