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Following the recent Curve Finance attack, Binance CEO Changpeng Zhao announced that the exchange had recovered $450 million from hackers. The decentralized finance (defi) platform Curve saw roughly $570 million siphoned from the application on August 9.
Binance has announced that it has seized assets worth around $450,000 that is linked to the Curve Finance exploit that occurred a few days prior. This is the second large-scale seizure of funds linked to the exploit, with Fixed Float seizing around $200,000 worth of assets that the hackers deposited.
Curve Finance [CRV], the on-chain liquidity exchange, was attacked in what was termed a “DNS cache poisoning” on 9 August. This exploit capitulated CRV as the price plunged from $1.48 on 8 August to $1.25 on the event day.
Binance, a global crypto exchange, has recovered over 80% of the funds stolen from Curve Finance by exploiters.
Barely two days after the Curve Finance DNS attack, Binance says it has recovered more than 80% of the stolen assets.
The majority of the stolen Curve money was frozen and recovered by Binance, founder Changpeng Zhao confirmed in a tweet on August 12. The post Binance Recovers Around $450k From Stolen $570K Curve Finance Exploit appeared first on BeInCrypto.
CEO of Binance, Changpeng Zhao “CZ” has shared on Twitter that $450k has been recovered from the funds stolen by hackers on exchange liquidity pool Curve Finance a few days ago. The decentralized finance (DeFi) protocol had its front end compromised which left the platform vulnerable for a few hours.
Binance recovers almost all of the stolen funds from Curve Finance, which is around $450,000 worth of the stolen assets. That would mean that Binance has recovered and frozen a whopping 80% of the money.
Major crypto exchange Binance said it has frozen or recovered more than 83% of the Curve Finance (CRV) stolen funds.
Binance has seized over $450,000 worth of crypto assets stolen in the Tuesday frontend attack on the decentralized cryptocurrency exchange Curve Finance.
Binance has frozen $450,000 of stolen funds from the Curve Finance front-end exploit. FixedFloat had also frozen about $200,000 in funds.
Changpeng Zhao, Binance CEO, claimed that his team had recovered a significant amount of the money taken by Curve's front-end exploit on Tuesday. Zhao provided a status report on Twitter and revealed that the centralized exchange has frozen $450,000 in stolen assets that the Curve hacker had transferred into the exchange.
Binance CEO Changpeng Zhao tweeted on August 12 that the exchange has identified and frozen 83% of the funds stolen from Curve Finance after the hacker attempted to launder it through Binance. The post Binance recovers $450K stolen from Curve DNS Hack appeared first on CryptoSlate.
Coinspeaker Binance Helps Recover $450K from Siphoned Curve.Finance Hack
"The hacker kept on sending the funds to Binance in different ways, thinking we can't catch it," CZ tweets.
Binance CEO today reported that the crypto exchange managed to recover roughly 83% of the funds stolen from Curve Finance on Monday.
Changpeng Zhao, the CEO of the Binance crypto exchange, said his team seized funds stolen during the recent Curve's front-end exploit. The post Binance seizes $450,000 stolen in Curve's front-end hack appeared first on The Block.
Binance recovered and froze around $450,000 worth of the stolen assets, which is around 80 percent of the stolen funds.
The world's largest exchange is now working with law enforcement to return to stolen funds.
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Recent news has reported another theft incident in the digital currency sector; it occurred in an exchange liquidity pool, Curve Finance. The attackers accomplished their objective by hijacking the DNS of the exchange liquidity pool.
Curve Finance says that an issue with their website has been fixed and reverted after $570,000 in Ethereum (ETH) went missing. The decentralized exchange and automated market maker (AMM) first warned its users not to use the front end of its website Curve.fi yesterday afternoon after it detected that its nameserver was compromised.
Reports indicate that the decentralized finance (defi) protocol Curve was hacked for $570,000 in ethereum after people noticed that Curve's front end was exploited. The attackers then tried to launder the funds via the crypto exchange Fixedfloat, and the trading platform's team managed to freeze $200K worth of the stolen funds.
Curve Finance is the newest DeFi project to find itself victim to a growing trend of cryptocurrency hacks in 2022.
