Binance Recovers 83% of Total $570,000 Stolen And is Working To Return The Funds To the Victims: Binance Has Done It Again
The smartness of the largest cryptocurrency exchange, Binance has always been mind-blowing over the years.
Binance Recovers The Stolen Funds
Recently, the exchange firm take the front tract in unveiling the recovery method of the stolen funds to help the victims.
The Binance’s head stated that with the help of the trading platform, $450,000 has been recovered out of the total of $570,000 stolen via hacking. The total recovery represents 83% of the overall losses.
The whole scenario started when the hacker sent the stolen funds to Binance via different tactics. The smart Binance platform has noticed the situation and they keep monitoring and freezing the stolen funds as the hackers were sending them to the exchange. At the moment, the biggest crypto exchange, Binance is working on how to return the funds to the rightful users.
As stated by the Binance’s Head, CZ:
Binance froze/recovered $450k of the Curve stolen funds, representing 83%+ of the hack. We are working with LE to return the funds to the users. The hacker kept on sending the funds to Binance in different ways, thinking we can’t catch it,
It is good to know that Binance’s CEO announced earlier this week, the theft of a sum of $570,000 via the DNS attack on the Curve Finance Protocol.
Binance Escaped The Short-Term Suspension Of The Web Services
As said earlier, Binance is known for taking lead in everything concerning the maintenance of the crypto sphere. As previously reported by Crytpolifedigital, the CEO of Binance, CZ, revealed the way out of the short-term suspension of the web services. The work of exchange on Binance was not affected despite the shutdown, although some of its services, like CoinMarketCap, of course, were also suspended.
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