Binance has paused activity on the Binance Smart Chain (BSC), the blockchain that helps facilitate transactions on the exchange, to investigate an exploit.

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In an official tweet, the company said that all systems are contained, with teams now focused on looking into the vulnerability.

Impact of the exploit was estimated to be worth around US$100 million to US$110 million. However, Binance said about US$7 million of the amount had already been frozen as of 7:30 a.m., with the help of its internal and external security partners as well as the community around the exchange.

The crypto firm’s native token, BNB, dropped to as low US$280.04 from the US$293 price it was hovering around earlier today.

Founder and CEO Changpeng Zhao noted that the exploit took advantage of BSC Token Hub – the bridge between BNB Beacon Chain and BNB Chain.

Binance is planning to roll out a node upgrade, but it has not revealed a date for the patch yet. It is currently working with BSC validators to find the root cause of the exploit.

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