According to CNBC, Binance CEO Changpeng Zhao is close to identifying the hacker behind a $570 million attack on its BNB blockchain.

Given tips from law enforcement officials, the crypto exchange company is narrowing down the hacker and tracking the person or people behind the attacks, Zhao told CNBC in an interview on the program Squawk Box Europe.

The attack in question targeted a so-called cross-chain bridge, making it possible for an unknown hacker or hackers to steal 2 million of Binance's BNB tokens, worth around $570 million at the time.

The attack in question targeted a so-called cross-chain bridge, making it possible for an unknown hacker or hackers to steal 2 million of Binance's BNB tokens, worth around $570 million at the time.

Recently in the DeFi (Decentralized Finance) world, hackers have been using bridges for cybercrime due to vulnerabilities in how bridges are designed.

"We're still actually chasing … helping [authorities] to chase the bad players, working with law enforcement around the globe," Zhao said. "Working with law enforcement is one of the ways that we can try to make the space safe."

"Law enforcement gave us tips about who they think it might be in this instant. So we're narrowing down."

In response to the attack, Binance halted activity on its BNB Chain blockchain network after coordinating with network validators - individuals and entities that sign off on transactions - to implement an upgrade.

It means that BNB Chain was able to prevent most of the targeted funds from being stolen, according to Zhao.

"The blockchain was able to freeze about 80% to 90% of it, so the actual loss of it was much smaller," he added.

In a statement at the time of the hack, Zhao said, "the vast majority of the funds remain under control," but that about $100 million was unrecoverable.

Formerly called Binance Chain, Binance originally developed the BNB Chain in 2019. Like other blockchain systems, it features a native token called BNB, which can be traded or used in other applications.

Also, Read Another Major Crypto Hack led to a loss of $570 Million Worth of BNB Tokens.