Audit log

Every state-changing event for B-Squared Network: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-07-27 12:09:03Z
   Score: ? → ? (no score change)
   anchorpending

   chain

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   hash

   BpEYq7Bqinow…VxJ38YmNcopysha256 → base58

   verifying row…

   canonical bytes (18361 B) ▸

   {"actor":"system:backfill","investigation_id":"a02f0fb3-a871-4ab8-8d3e-2e011d35e203","kind":"publish","page_slug":"b-squared-network","published_at":"2026-07-27T12:09:02.979Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"B-Squared Network","sections":[{"content":"B-Squared Network (B² Network) is a Bitcoin Layer-2 solution founded in 2022 and headquartered in Singapore. The protocol implements a ZK-Rollup architecture that is EVM-compatible, secured by zero-knowledge proofs and Bitcoin's Taproot. It operates two core components: B² Rollup, a fast low-cost execution layer, and B² Hub, a Layer-1.5 modular component using a Proof of Signal (PoSg) mechanism. The protocol supports DeFi, NFT, SocialFi, and AI-agent applications. The B2 token was launched via TGE on April 30, 2025, with an IDO conducted through Binance Wallet at $0.0714 per token. As of July 2026, the B2 token's all-time high was approximately $2.11, with the token trading substantially below that peak.","heading":"Protocol Overview","severity":"low","sources":[{"credibility":2,"name":"What Is BSquared Network (B2) — Gate.com Learn","type":"other","url":"https://www.gate.com/learn/articles/what-is-bsquared--network-b2/8892"},{"credibility":2,"name":"BSquared Network — CoinGecko","type":"other","url":"https://www.coingecko.com/en/coins/bsquared-network"},{"credibility":3,"name":"B2 Network TGE and Listing Details — Coingabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/bsquared-network-airdrop-live-b2-coin-listing-on-binance-today"}]},{"content":"B² Network completed a seed funding round in early 2024 with participation from at least 17 investors, including HashKey Capital, OKX Ventures, IDG Capital, KuCoin Ventures, ABCDE Capital, Animoca Ventures, Antalpha Ventures, Waterdrip Capital, Satoshi Lab, OGs Fund, and Leland Ventures. The exact dollar amount raised in the seed round has not been publicly disclosed in available sources. The protocol conducted a public IDO on Binance Wallet in April 2025, raising $300,000 at the IDO price of $0.0714 per B2 token.","heading":"Funding and Investors","severity":"low","sources":[{"credibility":2,"name":"B Squared Network Seed Investment Announcement — Blockchain.news","type":"news_article","url":"https://blockchain.news/news/b-squared-network-announces-seed-investments-by-hashkey-capitalokx-ventures,-idg-capital"},{"credibility":2,"name":"Bsquared Network (B2) IDO Funding Rounds — CryptoRank","type":"other","url":"https://cryptorank.io/ico/b-2-network"},{"credibility":2,"name":"B² Network Secures Seed-Round Funding — Medium / B² Network Official","type":"official","url":"https://blog.bsquared.network/b%C2%B2-network-secures-seed-round-funding-8f5a12523ed4"}]},{"content":"On July 22, 2026, B² Network confirmed a security incident affecting its B2 token staking service. An attacker gained unauthorized access to the upgrade authority of the staking contract — an administrative permission controlling contract behavior — and drained 8.59 million B2 tokens valued at approximately $3.86 million. The stolen B2 tokens were immediately converted on BNB Chain to 5,409 Wrapped BNB (WBNB), worth approximately $3.01–3.11 million at the time of sale. The attacker subsequently bridged the BNB proceeds to Ethereum, swapped them for ETH and USDT, and deposited the assets into NEAR Intents and HOT Protocol — cross-chain services that route funds across multiple networks — with blockchain investigator Specter reporting the funds were en route to Zcash, a privacy-focused blockchain. B² Network temporarily suspended all B2 staking operations following the incident and communicated the breach publicly via its official X (Twitter) account. The team pledged full compensation to all affected stakers and directed users wishing to unstake to submit requests via Discord, with processing expected within one business day. B² Network issued an on-chain message to the attacker offering legal immunity if at least 10% of stolen funds (approximately $386,000) were returned within 24 hours.","heading":"July 2026 Staking Contract Exploit","severity":"critical","sources":[{"credibility":2,"name":"B² Network Suffers $3.86M Exploit, Offers Attacker Legal Immunity — Metaverse Post","type":"news_article","url":"https://mpost.io/b%C2%B2-network-suffers-3-86m-exploit-offers-attacker-legal-immunity-for-partial-refund/"},{"credibility":2,"name":"B² Network Official Statement on Security Incident — X (Twitter)","type":"official","url":"https://x.com/BSquaredNetwork/status/2080077286238454109"},{"credibility":2,"name":"B² Network Faces $3.86 Million Token Drain — CryptoAdventure","type":"news_article","url":"https://cryptoadventure.com/b%C2%B2-network-faces-3-86-million-token-drain-as-attacker-sells-8-59m-b2/"},{"credibility":1,"name":"Bitcoin, Ethereum-linked protocols lose $35 million in multiple attacks hours apart — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/07/23/bitcoin-ethereum-linked-protocols-lose-usd35-million-in-multiple-attacks-hours-apart"},{"credibility":2,"name":"DeFi loses $35M in a day: Are 'bounties' inviting more hacks? — Protos","type":"news_article","url":"https://protos.com/defi-loses-35m-in-a-day-are-bounties-inviting-more-hacks/"}]},{"content":"Blockchain investigator Specter noted that the exploiter's wallet address had been granted privileged access to the staking contract's upgrade authority since 2025 — over a year before the theft — and that permissions were only revoked after the theft occurred. Specter alleged this timeline may point to insider involvement, though this claim is unverified and no attacker has been publicly identified. The incident highlights a systemic concern in DeFi bridge infrastructure: the concentration of upgrade authority in a single privileged role without adequate multi-signature controls or time-lock mechanisms. CoinDesk noted that none of the three attacks on July 22 broke underlying cryptography; rather, all three exploited 'compromised keys and permissions and logic flaws,' which the outlet described as 'the primary cause of major crypto thefts.' A February 2024 security audit of B² Network's zkEVM was conducted by Scalebit, though the audit's findings and whether staking contract upgrade key custody was reviewed remain unclear from available public sources.","heading":"Privileged Role Custody and Alleged Insider Risk","severity":"critical","sources":[{"credibility":2,"name":"DeFi loses $35M in a day: Are 'bounties' inviting more hacks? — Protos","type":"news_article","url":"https://protos.com/defi-loses-35m-in-a-day-are-bounties-inviting-more-hacks/"},{"credibility":1,"name":"Bitcoin, Ethereum-linked protocols lose $35 million in multiple attacks hours apart — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/07/23/bitcoin-ethereum-linked-protocols-lose-usd35-million-in-multiple-attacks-hours-apart"},{"credibility":2,"name":"B² Network zkEVM Final Audit Report — Scalebit (February 2024)","type":"research","url":"https://scalebit.xyz/reports/B%C2%B2-Network-zkEVM-Final-Audit-Report.pdf"}]},{"content":"The B² Network exploit was one of three major bridge and cross-chain protocol attacks recorded on July 22, 2026, collectively draining approximately $35.55 million in under 24 hours. The two concurrent incidents were: AFX Trade, a perpetuals exchange, which lost approximately $24.15 million from its Arbitrum bridge; and the Verus-Ethereum Bridge, which lost approximately $7.54 million — its second significant hack through an identical vulnerability following a May 2026 breach. On-chain monitoring by Lookonchain and BlockBeats first flagged all three incidents. Security researcher Taylor Monahan and other commentators raised concerns that the prevalence of 10–30% bounty offers across recent DeFi exploits may inadvertently create financial incentives for sophisticated actors to exploit vulnerabilities rather than report them responsibly, a dynamic described in analysis by Protos.","heading":"Broader Attack Context: Multi-Protocol Hack Wave","severity":"high","sources":[{"credibility":2,"name":"'Hackers Day': 3 Crypto Protocols Drained of $35 Million in 24 Hours — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/hackers-day-3-crypto-protocols-drained-of-35-million-in-24-hours/"},{"credibility":1,"name":"Bitcoin, Ethereum-linked protocols lose $35 million in multiple attacks hours apart — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/07/23/bitcoin-ethereum-linked-protocols-lose-usd35-million-in-multiple-attacks-hours-apart"},{"credibility":2,"name":"Three hacks today result in a $35.55M loss — KuCoin News","type":"news_article","url":"https://www.kucoin.com/news/flash/three-hacks-today-result-in-35-55m-loss"},{"credibility":2,"name":"DeFi loses $35M in a day: Are 'bounties' inviting more hacks? — Protos","type":"news_article","url":"https://protos.com/defi-loses-35m-in-a-day-are-bounties-inviting-more-hacks/"},{"credibility":2,"name":"Three Crypto Bridge Hacks in DeFi Vanish $35.6M in One Day — Coinpedia","type":"news_article","url":"https://coinpedia.org/news/three-crypto-bridge-hacks-in-defi-vanish-35-6m-in-one-day/"}]},{"content":"As of the time of available reporting, no attacker has been identified and no funds have been confirmed returned. B² Network suspended B2 staking and issued a public pledge to fully compensate all affected stakers. The team communicated an on-chain bounty offer of legal immunity in exchange for return of at least 10% of stolen funds within 24 hours. Protos noted that the 10% bounty framing is standard across recent DeFi exploits, with other July 2026 hacks (AFX and Verus) offering 30% and 25% respectively, raising industry debate about whether bounty norms have become a predictable component of exploit economics.","heading":"Fund Recovery and Team Response","severity":"high","sources":[{"credibility":2,"name":"B² Network Suffers $3.86M Exploit, Offers Attacker Legal Immunity — Metaverse Post","type":"news_article","url":"https://mpost.io/b%C2%B2-network-suffers-3-86m-exploit-offers-attacker-legal-immunity-for-partial-refund/"},{"credibility":2,"name":"B² Network Official Statement on Security Incident — X (Twitter)","type":"official","url":"https://x.com/BSquaredNetwork/status/2080077286238454109"},{"credibility":2,"name":"DeFi loses $35M in a day: Are 'bounties' inviting more hacks? — Protos","type":"news_article","url":"https://protos.com/defi-loses-35m-in-a-day-are-bounties-inviting-more-hacks/"}]},{"content":"No known regulatory actions by the SEC, CFTC, DOJ, or any other government authority against B-Squared Network or its principals have been identified in available sources as of the date of this investigation. The protocol is incorporated in Singapore. The July 2026 exploit has not been subject to any publicly filed law enforcement action based on available reporting.","heading":"Regulatory and Legal Status","severity":"low","sources":[{"credibility":2,"name":"B² Network — Crunchbase Company Profile","type":"other","url":"https://www.crunchbase.com/organization/b%C2%B2-network"}]}],"sources_used":[{"credibility":1,"name":"Bitcoin, Ethereum-linked protocols lose $35 million in multiple attacks hours apart — CoinDesk","type":"news_article","url":"https://www.coindesk.com/tech/2026/07/23/bitcoin-ethereum-linked-protocols-lose-usd35-million-in-multiple-attacks-hours-apart"},{"credibility":2,"name":"B² Network Suffers $3.86M Exploit, Offers Attacker Legal Immunity For Partial Refund — Metaverse Post","type":"news_article","url":"https://mpost.io/b%C2%B2-network-suffers-3-86m-exploit-offers-attacker-legal-immunity-for-partial-refund/"},{"credibility":2,"name":"DeFi loses $35M in a day: Are 'bounties' inviting more hacks? — Protos","type":"news_article","url":"https://protos.com/defi-loses-35m-in-a-day-are-bounties-inviting-more-hacks/"},{"credibility":2,"name":"'Hackers Day': 3 Crypto Protocols Drained of $35 Million in 24 Hours — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/hackers-day-3-crypto-protocols-drained-of-35-million-in-24-hours/"},{"credibility":2,"name":"B² Network Faces $3.86 Million Token Drain As Attacker Sells 8.59M B2 — CryptoAdventure","type":"news_article","url":"https://cryptoadventure.com/b%C2%B2-network-faces-3-86-million-token-drain-as-attacker-sells-8-59m-b2/"},{"credibility":2,"name":"B² Network Official Statement on Security Incident — X (Twitter)","type":"official","url":"https://x.com/BSquaredNetwork/status/2080077286238454109"},{"credibility":2,"name":"Three hacks today result in a $35.55M loss — KuCoin News","type":"news_article","url":"https://www.kucoin.com/news/flash/three-hacks-today-result-in-35-55m-loss"},{"credibility":2,"name":"Three Crypto Bridge Hacks in DeFi Vanish $35.6M in One Day — Coinpedia","type":"news_article","url":"https://coinpedia.org/news/three-crypto-bridge-hacks-in-defi-vanish-35-6m-in-one-day/"},{"credibility":2,"name":"B² Network Hit by 8.59M B2 Token Drain Worth $3.86M — CryptocurrencyHelp","type":"news_article","url":"https://cryptocurrencyhelp.com/news/b2-network-hit-by-8-59m-b2-token-drain-worth-3-86m/"},{"credibility":2,"name":"B Squared Network Seed Investment Announcement — Blockchain.news","type":"news_article","url":"https://blockchain.news/news/b-squared-network-announces-seed-investments-by-hashkey-capitalokx-ventures,-idg-capital"},{"credibility":2,"name":"B² Network zkEVM Final Audit Report — Scalebit (February 2024)","type":"research","url":"https://scalebit.xyz/reports/B%C2%B2-Network-zkEVM-Final-Audit-Report.pdf"},{"credibility":2,"name":"What Is BSquared Network (B2) — Gate.com Learn","type":"other","url":"https://www.gate.com/learn/articles/what-is-bsquared--network-b2/8892"},{"credibility":2,"name":"BSquared Network — CoinGecko","type":"other","url":"https://www.coingecko.com/en/coins/bsquared-network"},{"credibility":2,"name":"Bsquared Network (B2) IDO Funding Rounds — CryptoRank","type":"other","url":"https://cryptorank.io/ico/b-2-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.","timeline":[{"date":"2022-01-01","event":"B-Squared Network founded in Singapore as a Bitcoin Layer-2 development project.","source":"CryptoPotato / Bsquared Network background","source_url":"https://cryptopotato.com/hackers-day-3-crypto-protocols-drained-of-35-million-in-24-hours/"},{"date":"2024-01-01","event":"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.","source":"Blockchain.news seed investment announcement","source_url":"https://blockchain.news/news/b-squared-network-announces-seed-investments-by-hashkey-capitalokx-ventures,-idg-capital"},{"date":"2024-02-06","event":"Scalebit publishes zkEVM security audit report for B² Network, identifying issues of varying severity.","source":"Scalebit — B² Network zkEVM Final Audit Report","source_url":"https://scalebit.xyz/reports/B%C2%B2-Network-zkEVM-Final-Audit-Report.pdf"},{"date":"2025-04-30","event":"B2 token TGE launches on Binance Wallet at $0.0714 per token, raising $300,000. Token begins trading on Binance, KuCoin, and MEXC.","source":"Coingabbar — BSquared Network Airdrop and B2 Listing","source_url":"https://www.coingabbar.com/en/crypto-currency-news/bsquared-network-airdrop-live-b2-coin-listing-on-binance-today"},{"date":"2025-09-01","event":"B² Network's Pulsar Upgrade reduces transaction finality to 150 milliseconds.","source":"Gate.com — What Is BSquared Network (B2)","source_url":"https://www.gate.com/learn/articles/what-is-bsquared--network-b2/8892"},{"date":"2026-04-30","event":"First TGE anniversary; B² Network announces 'B² 2048' long-term roadmap focusing on AI-driven Bitcoin utility.","source":"Gate.com — What Is BSquared Network (B2)","source_url":"https://www.gate.com/learn/articles/what-is-bsquared--network-b2/8892"},{"date":"2026-07-22","event":"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.","source":"B² Network Official X Statement / Metaverse Post / CoinDesk","source_url":"https://www.coindesk.com/tech/2026/07/23/bitcoin-ethereum-linked-protocols-lose-usd35-million-in-multiple-attacks-hours-apart"},{"date":"2026-07-22","event":"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.","source":"KuCoin News — Three hacks today result in $35.55M loss","source_url":"https://www.kucoin.com/news/flash/three-hacks-today-result-in-35-55m-loss"},{"date":"2026-07-22","event":"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.","source":"B² Network Official X Statement","source_url":"https://x.com/BSquaredNetwork/status/2080077286238454109"},{"date":"2026-07-23","event":"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.","source":"Protos — DeFi loses $35M in a day: Are 'bounties' inviting more hacks?","source_url":"https://protos.com/defi-loses-35m-in-a-day-are-bounties-inviting-more-hacks/"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 65e8cf9b-efef-41f6-b59d-ef66c1447f09copy