Binance Recovers More Than 80% of Funds Stolen in Curve Finance Attack
DeFi

Binance Recovers More Than 80% of Funds Stolen in Curve Finance Attack

Created 1mo ago, last updated 1mo ago

"The hacker kept on sending the funds to Binance in different ways, thinking we can't catch it," CZ tweets.

Binance Recovers More Than 80% of Funds Stolen in Curve Finance Attack

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Binance has managed to recover $450,000 of the funds stolen in the Curve Finance hack.

The exchange's CEO, Changpeng Zhao, says this represents about 83% of what was taken in the attack earlier this week.

He added that the company is now working with law enforcement to ensure the funds are returned to users. On Twitter, CZ wrote:

"The hacker kept on sending the funds to Binance in different ways, thinking we can't catch it."

On Tuesday, CZ explained that a hacker had put a malicious contract on Curve Finance's homepage — and when it was approved by unsuspecting victims, their wallets would be drained.

At the time, estimates suggested that a total of $570,000 had been stolen as a result of the incident.

It appears the hacker had managed to change the domain name system entry for Curve Finance, directing visitors to a fake version of the website.

The DeFi platform has suggested that it may start switching to Ethereum Name Service instead to prevent such an attack from happening again.

Binance is the parent company of CoinMarketCap.

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