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Binance Security Team Investigates Suspect In KyberSwap Hack

Binance CEO Changpeng Zhao (CZ) updated the KyberSwap hack, disclosing that his company’s security team has identified two suspects.

Binance Security Team Investigates Suspect In KyberSwap Hack 2

Binance CEO said the firm’s security team had identified two suspects in Thursday’s KyberSwap hack:

In response to a tweet praising the exchange’s activities and characterizing it as the crypto space’s big brother, the CEO of KyberSwap stated:

KyberSwap is a multichain DEX aggregator hacked on the front end, resulting in the theft of $265,000 in user assets. The Kyber team informed victims of the hack that they would be paid for any monies lost and offered the hacker a 15% bounty if the funds were restored.

The exploit was stopped around two hours after the team started investigating. It advised consumers to exercise caution when utilizing its platform.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.