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Binance Recovers 83% of Funds Stolen From Curve Finance Users’ Addresses.
Binance has once again taken the lead in helping hack victims recover their stolen funds.
Changpeng Zhao (CZ), the founder of Binance, has disclosed that the trading platform has helped Curve Finance to recover its users’ stolen funds.
According to CZ, out of the $570,000 stolen from Curve Finance, the leading trading platform has recovered $450,000, representing 83% of the total losses.
Notably, shortly after the hack earlier this week, the malefactors sent the stolen funds to Binance using different tactics.
Interestingly, Binance has been on top of the situation, monitoring and freezing the stolen funds as the hackers keep sending the funds to the exchange. Binance is now working to refund the users.
“Binance froze/recovered $450k of the Curve stolen funds, representing 83%+ of the hack. We are working with LE to return the funds to the users. The hacker kept on sending the funds to Binance in different ways, thinking we can’t catch it,” CZ said.
Binance froze/recovered $450k of the Curve stolen funds, representing 83%+ of the hack. We are working with LE to return the funds to the users. The hacker kept on sending the funds to Binance in different ways, thinking we can't catch it. 😂#SAFU https://t.co/Ekea9moeAw
— CZ 🔶 Binance (@cz_binance) August 12, 2022
Per CZ, the exchange is currently taking significant steps to return the frozen funds to the affected victims.
Recall that earlier this week, CZ reported that hackers carried out a DNS attack on Curve Finance protocol. Hackers were able to drain $570K.
Curve. finance had their DNS hijacked in the past hour. Hacker put a malicious contract on the home page. When the victim approved the contract, it would drain the wallet. Damage is around $570k so far. We are monitoring.
— CZ 🔶 Binance (@cz_binance) August 9, 2022