B² Network
Summary
B² Network (BSquared Network) is a Bitcoin Layer-2 scaling protocol founded in November 2022, utilizing zero-knowledge proof verification and EVM-compatible rollup technology. On July 22–23, 2026, the project suffered a confirmed security exploit in which an attacker gained unauthorized access to the upgrade authority of its B2 token staking contract on BNB Chain, draining 8.59 million B2 tokens valued at approximately $3.86 million. The stolen funds were sold for BNB, bridged to Ethereum, and are being routed through NEAR Intents toward Zcash for laundering, according to blockchain investigator Specter. The incident was one of three coordinated exploits on the same day — alongside the Verus Ethereum Bridge ($7.54M) and AFX Trade ($24.15M) — in what Lookonchain labeled 'Hackers' Day,' with combined losses of $35.55 million.
Connected Entities
1 entities · 10 linked investigationsTimeline(12 events)
2022-11-01
B² Network founded as a Bitcoin Layer-2 scaling protocol utilizing zero-knowledge proof verification commitment rollup technology.
CoinMarketCap / B² Network official documentation2024-01-25
B² Network raised a seed funding round from investors including Antalpha, IDG Capital, HashKey Capital, KuCoin Ventures, OKX Ventures, Waterdrip Capital, ABCDE Capital, and Animoca Brands.
CypherHunter / ICO Analytics2025-04-30
B2 token IDO conducted at $0.0714 via Binance Wallet, raising $300,000. B2 trading commenced on major exchanges.
ICO Analytics / CoinMarketCap2025-01-01
Alleged: The wallet subsequently used in the July 2026 exploit is reported to have been granted privileged upgrade authority access to the B2 staking contract from approximately this period onward.
Metaverse Post (citing blockchain analysis)2026-04-30
B² Network celebrated its first TGE anniversary and released a long-term roadmap called 'B² 2048,' refocusing on AI-driven Bitcoin utility as payment infrastructure for AI agents.
CoinMarketCap2026-07-22
At approximately 21:30 UTC, an attacker exploited unauthorized access to the upgrade authority of B² Network's BNB Chain staking contract, draining 8.59 million B2 tokens valued at approximately $3.86 million.
CoinDesk / Lookonchain / multiple outlets2026-07-22
The 8.59 million stolen B2 tokens were sold for approximately 5,409 WBNB (~$3.01–3.11 million) on BNB Chain, with approximately $850,000 lost to price impact slippage. BNB proceeds were bridged to Ethereum and converted to ETH and USDT.
Lookonchain / Metaverse Post / CryptoAdventure2026-07-22
Stolen funds deposited into NEAR Intents and HOT Protocol cross-chain routing services. Blockchain investigator Specter reported the funds are being routed toward Zcash for privacy obfuscation.
Metaverse Post / CryptocurrencyHelp (citing investigator Specter)2026-07-23
B² Network confirmed the incident via official X post, suspended B2 staking operations, pledged full user compensation, and sent an on-chain message offering the attacker legal immunity in exchange for returning at least 10% of stolen funds.
B² Network official X / Protos / CryptoSlate2026-07-23
Lookonchain dubbed the day 'Hackers' Day,' reporting combined losses of $35.55 million across three exploits: B² Network ($3.86M), Verus Ethereum Bridge ($7.54M), and AFX Trade ($24.15M).
KuCoin / CryptoPotato / CoinDesk2026-07-24
No completed restitution or attacker response to the bounty offer documented in public reporting as of this date. B² Network had not published a formal post-mortem or independent security audit.
CryptoSlateDecision Log
- #1publish⛓ pending7/25/2026, 11:33:39 PMhash: 2MPAfMbSE8oG6Lv64YpL45igNKmvMwcLpvvkCn9AqSsC
0 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 7/25/2026, 11:33:28 PM
last updated: 7/25/2026, 11:33:39 PM
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