B-Squared Network
Summary
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 investigationsTimeline(10 events)
2022-01-01
B-Squared Network founded in Singapore as a Bitcoin Layer-2 development project.
CryptoPotato / Bsquared Network background2024-01-01
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 announcement2024-02-06
Scalebit publishes zkEVM security audit report for B² Network, identifying issues of varying severity.
Scalebit — B² Network zkEVM Final Audit Report2025-04-30
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 Listing2025-09-01
B² Network's Pulsar Upgrade reduces transaction finality to 150 milliseconds.
Gate.com — What Is BSquared Network (B2)2026-04-30
First TGE anniversary; B² Network announces 'B² 2048' long-term roadmap focusing on AI-driven Bitcoin utility.
Gate.com — What Is BSquared Network (B2)2026-07-22
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 / CoinDesk2026-07-22
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 loss2026-07-22
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 Statement2026-07-23
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
- #1publish⛓ pending7/27/2026, 12:09:03 PMhash: BpEYq7BqinowRwTYMEdTCQgFkc9kwhauvNUnVxJ38YmN
10 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: 7/27/2026, 8:51:00 PM
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