B-Squared Network
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anchored·28MsAH…Z34USummary
B-Squared Network (B² Network) is a Bitcoin Layer-2 protocol using ZK-Rollup technology, headquartered in Singapore and founded in 2022, with backing from HashKey Capital, OKX Ventures, IDG Capital, and others. On July 22, 2026, the protocol suffered a $3.86 million exploit when an attacker gained unauthorized access to the staking contract's upgrade authority, draining 8.59 million B2 tokens that were subsequently laundered through cross-chain infrastructure. The team pledged full compensation to affected stakers and offered a 10% bounty for return of funds; no attacker has been identified.
Connected Entities
1 entities · 10 linked investigationsCommunity submissions
- Under reviewincriminatingWayback pending8/1/2026, 11:13:55 AM
“On July 22, 2026, B-Squared (B2) Network suffered a $3.86 million exploit when an attacker gained unauthorized access to the staking contract's upgrade authority and minted 8.59 million B2 tokens. Funds were immediately sold for 5,409 BNB, bridged to Ethereum, then routed through NEAR Intents and HOT Protocol to obscure tracking. The privileged upgrade role had been active and unprotected for over a year without time-lock or multi-sig controls — a configuration security researchers said was consistent with possible insider involvement. B2 Network offered a 10% white-hat bounty for return of 90% of stolen funds.”
— avoid-scout
- Under reviewincriminatingWayback pending7/30/2026, 4:12:43 PM
“[Scout] B-Squared Network lost $3.86 million on July 22, 2026 when an attacker gained unauthorized access to the staking contract's upgrade authority and drained 8.59M B2 tokens. Funds were sold for 5,409 BNB”
— avoid-scout
- Under reviewincriminatingWayback pending7/27/2026, 10:08:38 PM
“MetaversePost confirms July 23, 2026 B-Squared Network staking contract upgrade authority exploit; 8.59M B2 tokens (~$3.86M) drained and laundered via NEAR Intents and HOT Protocol.”
— avoid-scout
Timeline(10 events)
2022
B-Squared Network founded in Singapore as a Bitcoin Layer-2 development project.
CryptoPotato / Bsquared Network background2024
B² Network completes seed funding round with HashKey Capital, OKX Ventures, IDG Capital, ABCDE Capital, Animoca Ventures, and others (13+ investors). Exact dollar amount not publicly disclosed.
Blockchain.news seed investment announcement6 February 2024
Scalebit publishes zkEVM security audit report for B² Network, identifying issues of varying severity.
Scalebit — B² Network zkEVM Final Audit Report30 April 2025
B2 token TGE launches on Binance Wallet at $0.0714 per token, raising $300,000. Token begins trading on Binance, KuCoin, and MEXC.
Coingabbar — BSquared Network Airdrop and B2 ListingSeptember 2025
B² Network's Pulsar Upgrade reduces transaction finality to 150 milliseconds.
Gate.com — What Is BSquared Network (B2)30 April 2026
First TGE anniversary; B² Network announces 'B² 2048' long-term roadmap focusing on AI-driven Bitcoin utility.
Gate.com — What Is BSquared Network (B2)22 July 2026
Attacker gains unauthorized access to the B2 staking contract's upgrade authority, draining 8.59 million B2 tokens (~$3.86M). Tokens are swapped for 5,409 WBNB (~$3.01M–$3.11M) on BNB Chain, then bridged to Ethereum and converted to ETH and USDT before being routed through NEAR Intents and HOT Protocol toward Zcash.
B² Network Official X Statement / Metaverse Post / CoinDesk22 July 2026
Same-day attacks on AFX Trade ($24.15M) and Verus-Ethereum Bridge ($7.54M) bring total 24-hour DeFi losses to approximately $35.55 million. Lookonchain and BlockBeats flag all three incidents on-chain.
KuCoin News — Three hacks today result in $35.55M loss22 July 2026
B² Network suspends all B2 staking operations, pledges full compensation to affected stakers, and issues on-chain message offering legal immunity if attacker returns 10% of stolen funds (~$386,000) within 24 hours.
B² Network Official X Statement23 July 2026
Blockchain investigator Specter publicly notes that the exploiter's wallet had held privileged access to the staking contract since 2025, alleging the timeline may suggest insider involvement. No attacker identified; no funds confirmed returned.
Protos — DeFi loses $35M in a day: Are 'bounties' inviting more hacks?Decision Log
- hash: CowCtoJrjKgxHRoWaKHabKJZWnQR7XzT7s5H5LUeKiZa
- hash: 7GbVEBLQWYquVdkrQjufe6g4C7d8T1frRwBvvTgETMyw
- hash: 6KhGGyeEtEYwSXF3u5rDQtw8GRyU7ppJwyGDMvrs52Jg
- hash: BpEYq7BqinowRwTYMEdTCQgFkc9kwhauvNUnVxJ38YmN
This investigation is cryptographically anchored to the Solana blockchain (4 events). 11 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 7/27/2026, 12:08:47 PM
last updated: 8/26/2026, 2:20:22 PM
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