Binance Recovers $450,000 of the Amount Stolen in Curve Finance Exploit

12.08.2022 09:46
by Nina Petrov
1 min read

After the DeFi protocol Curve Finance was hacked for $537,000 this Tuesday, the crypto exchange Binance has now managed to recover $450,000 of that amount.

According to Binance’s CEO, Changpeng Zao, the exchange detected the hacker’s multiple attempts to send the funds to Binance in various different ways. The crypto exchange is now busy returning the money to the victims of the exploit.

In brief, the attacker manipulated the Curve Finance domain name system in order to infiltrate the protocol. After stealing the funds, he or she attempted to hide the trace of money through multiple crypto mixers and exchanges, but with little success. Finally, the attacker resorted to Binance.

This week, there’s been some inspiring news in the crypto community. Apart from Binance helping out, whitehat hackers have been slowly returning the money stolen in the Nomad exploit last week.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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