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Curve Finance, a well-known automated market maker, was targeted earlier this week. The website acknowledged on Twitter that its DNS had been compromised. According to several people, a staggering $570K was stolen from the platform. Reports indicate that Binance appears to have recovered a sizable portion of the assets.
Binance Recovers Stolen Funds From Curve.Fi
The CEO of Binance, the biggest cryptocurrency exchange in the world, Changpeng Zhao, well known by his screen name CZ, tweeted that they had been able to retrieve $450K of the stolen assets. CZ noted that the exchange had successfully recovered more than 83% of the stolen money. In an additional jab at the hacker, he tweeted: https://twitter.com/cz_binance/status/1557956979275988992 Binance is also attempting to reimburse the hacking victims for their lost money. But there's still something unclear about the cryptocurrency business.
Announcement By Curve.Fi
As we reported earlier, the platform's DNS was taken over by attackers. On the home page, the hacker allegedly created a harmful contract. The victim then approved the contract, which led to the theft. According to Zhao, Curve Finance used GoDaddy for DNS. Web3 projects were urged to avoid the platform because of its unsafety. CZ said, "No web3 projects should use that. Very susceptible to social engineering." Curve Finance declared yesterday on Twitter that the DNS settings were "propagated everywhere," so the platform was secure to use. https://twitter.com/CurveFinance/status/1557481216508628992