Binance Has Recovered 83% Of Curve Finance Hacked Funds

Binance CEO CZ has confirmed to have frozen and recovered $450000 equivalent to more than 83% of the total hacked funds from the Curve Finance platform after hackers used various ways to transfer funds to this exchange.

Hacker Curve Finance Can’t Get Out of Binance

As updated in the Coincu News article, Curve Finance suffered a user interface hack early this morning on August 10. The hack was discovered when a Paradigm researcher tweeted that Curve’s user interface had been compromised.

The hackers used a Domain Name Service (DNS) spoofing attack, duplicating the website and redirecting the DNS point to their IP address. They then add approval requirements to a malicious contract to steal funds.

Users who have connected to Curve with their MetaMask wallet are at risk of having their funds stolen. According to CZ, hackers took away about $570,000.

They then sent money to exchanges to launder money including: Tornado Cash, FixedFloat and Binance. As per the report, FixedFloat says it has frozen 112 ETH, about $191,088, of the stolen funds.

As of today, August 12, a happy ending happened when CZ has confirmed that Binance has frozen/recovered $450,000 ~ 83% of the funds stolen from the Curve Finance hack.

According to CZ, the hacker tried to disperse this money on this exchange in various ways but was caught by Binance. The exchange is currently working to refund users.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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