Mathisen Marketing

Your Marketing Blog

Binance Helps Narrow Down Two Suspects of Kyberswap Exploit

Binance Helps Narrow Down Two Suspects of Kyberswap Exploit

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

  • Intel had been sent to the Kyber team, as confirmed by CZ.
  • Kyberswap announced a 10 percent reward to hackers.

Crypto exchange Binance has helped investigate the $265,000 breach of decentralized cryptocurrency exchange KyberSwap by clearing two suspects.

On September 1, an attacker used a user interface flaw in Kyber Network to steal $265,000 from KyberSwap. In addition, the exchange announced a reward for the hacker, a 10% reward, or about $40,000, while investigations were underway.

Meanwhile, a separate investigation led Binance’s security team to identify two individuals they believe were behind the planning and execution of the virtual heist. Intel had been sent to the Kyber team, as confirmed by Binance CEO Changpeng Zhao (CZ).

While Binance and law enforcement are still close to the hackers, they have begun to coordinate their activities. Additionally, if Binance’s findings are correct, KyberSwap investors may see a unique community-driven hack redeemed.

Before the Kyber team could stop the attack, the perpetrators had acquired approximately $265,000 worth of cryptocurrencies. Unlike other DeFi protocols that have been exploited in the past year, Kyber’s smart contracts did not contain a flaw. The user interface itself was where the faulty code was found.

Recently, CZ dismissed malicious speculation and unsubstantiated claims that Binance is a Chinese “criminal entity” that “secretly” [belongs] In the pocket of the Chinese government.”

Cz added:

“The biggest challenge facing Binance today is that we (and all other offshore exchanges) have been named as a criminal entity in China. At the same time, our opposition in the West is bending over backwards to paint us as a ‘Chinese company.’

Recommended for you:

KyberSwap hit by Frontend Exploit, lost over $265,000

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published.

Latest Posts

  • Terra Founder Reportedly Given North Korean Citizenship

    Terra Founder Reportedly Given North Korean Citizenship

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase – Ad – Kwon’s whereabouts are still unknown as rumors continue to mount. With the whereabouts of TerraForm Labs (TFL) CEO and founder Do Kwon still unknown to authorities, many have been discussing where one of the most wanted men […]

    Read More

  • MKR adds 4% to its value despite poor market performance

    MKR adds 4% to its value despite poor market performance

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase MKR, the original token of the MakerDAO ecosystem, is one of the top performers in the cryptocurrency market after last week’s announcement. MKR, the native token of the MakerDAO ecosystem, outperforms most of the coins and tokens in the top […]

    Read More

  • Caution Ahead! Here’s How Ethereum (ETH) & Bitcoin (BTC) Will Perform In October

    Caution Ahead! Here’s How Ethereum (ETH) & Bitcoin (BTC) Will Perform In October

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Message Warning ahead! The post How Ethereum (ETH) and Bitcoin (BTC) Performed in October appeared first on Coinpedia Fintech News There was a strong bearish sentiment during September, and Bitcoin price has struggled to stay above the psychological support level […]

    Read More