ChainCatcher news, Osprey Funds announced the launch of the Osprey BNB Chain Trust fund (ticker: $OBNB), which is now trading on the OTCQX market.This is the first publicly traded BNB-based fund in the United States. The fund provides U.S. investors with the opportunity to access BNB through traditional brokerage accounts or IRA accounts, which is one of the few ways to invest in BNB given that it cannot be traded on centralized exchanges in the U.S. BNB, as the native token of the BNB Chain, underpins decentralized applications, DeFi protocols, and smart contracts.

ChainCatcher news reports that the cross-chain protocol pNetwork has released an analysis of the previous GALA incident, stating that the team noticed a configuration error in the pNetwork cross-chain bridge for GALA on November 3. The team observed that due to the configuration error, the ownership of the pGALA smart contract (deployed on BSC) had been secretly taken over. The attacker who gained ownership of the smart contract did not launch any attacks, but this situation highlighted a high-security risk that needed immediate mitigation. Therefore, pNetwork contacted GalaGames to decide to suspend cross-chain bridge activities and execute a white-hat drain of the pGALA/BNB PancakeSwap pool in an attempt to preserve the BNB funds in that pool so that they could be returned to their rightful owners (liquidity providers) once the situation was under control. The white-hat drain recovered 12,977 BNB (approximately 4.5 million USD), and the funds will be returned to the holders of currently uncollateralized pGALA, with a snapshot taken on November 7, 2022, at 16:00.The cross-chain protocol pNetwork minted over 1 billion USD worth of pGALA in the early morning of November 4 after redeploying the pGALA contract to "crash" the original pGALA pool, or due to the failure to communicate with the Huobi platform, temporarily shutting down deposit and withdrawal services, which led to a large number of users transferring coins from DEX to the Huobi platform and subsequently selling, triggering a price crash. (Source link)