BY Token Loses $88.4K in BSC Exploit Amid Surge in DeFi Hacks

May 30, 2026

The BY token project lost $88.4K in an exploit on Binance Smart Chain, highlighting a surge in DeFi hacks that security firm CertiK attributes to AI. April 2026 was the worst month for DeFi in four years, with exploits on 27 of 30 days. This persistent risk is a "major blocker" preventing traditional financial institutions from moving trillions of dollars of assets onto blockchains.

BY Token BSC exploit

▪The exploit was flagged by blockchain security firm TenArmorAlert after it detected irregular on-chain activity.
▪The BY token project was exploited on the Binance Smart Chain (BSC), resulting in a loss of approximately $88,400.
▪The attacker exploited a logic weakness in the BY token's smart contract, routing funds through PancakeSwap liquidity pools.

AI-driven DeFi attack surge

▪Over $1.1 billion has been lost to DeFi hacks in the year leading up to late May 2026, according to DefiLlama data.
▪The BY token incident is one of several recent attacks on Binance Smart Chain, including a $243,000 exploit of the ATM token protocol.
▪North Korean cybercriminals drained nearly $600 million from Drift Protocol and Kelp Dao in two exploits in April 2026.
▪CertiK CEO Ronghui Gu stated that April 2026 was the worst month for DeFi in four years, with exploits occurring on 27 out of 30 days.
▪CertiK believes the recent surge in DeFi exploits is fueled by AI-driven attacks.

Traditional finance onchain migration barriers

▪Traditional financial (TradFi) institutions are deterred from moving trillions of dollars of assets onchain due to the high risk of hacks and exploits.
▪CertiK CEO Ronghui Gu identified AI attacks, smart contract vulnerabilities, and bridge hacks as a "major blocker" for TradFi adoption of blockchain technology.

Asymmetric hacker-defender economics

▪Protocol defenders operate under strict budgetary constraints, creating what CertiK's CEO calls an "unfair game" against well-resourced attackers.
▪Hackers are economically incentivized to spend $10,000 to $20,000 on continuous vulnerability scans against high-value protocols.