May 12, 2025
Blockchain

Binance blocks $450,000 stolen from Curve Finance

  • August 12, 2022
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Platform head Changpeng Zhao said that Bitcoin exchange Binance has frozen $450,000 stolen by attackers from the DeFi protocol Curve Finance. Binance froze/recovered $450,000 of Curve stolen funds,

Platform head Changpeng Zhao said that Bitcoin exchange Binance has frozen $450,000 stolen by attackers from the DeFi protocol Curve Finance.

On August 9, unknown persons compromised the Curve Finance frontend. As a result, users lost $573,000 worth of assets.

PeckShield experts followed that the attackers transferred coins in ETH to the Tornado Cash platform, the FixedFloat protocol, as well as directly to Binance.

“The hacker kept sending money to Binance in various ways, thinking we wouldn’t be able to catch them,” Zhao said.

According to him, the exchange is working with liquidity providers to return funds to victims.

Initial analysis of the attack on Curve showed that the domain name system (DNS) protocol at an external provider was “poisoned”. The DeFi project team stressed that the incident confirms the “urgent need to move to distributed ENS”.

“They use GoDaddy hosting which is not secure for DNS. No Web3 project should do this. He’s very sensitive to social engineering,” commented Zhao.

Recall that in April Binance returned part of the assets stolen by hackers to the GameFi project Axie Infinity in the amount of $ 5.8 million.

Back in March, unknowns hacked the Ethereum sidechain Ronin involved in the game, pulling about $625 million in ETH and USDC.

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Source: Fork Log

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