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Binance Freezes $450,000 Curve.Finance Theft (CRV)

13-Aug-2022 By: Sudeep Saxena
Binance Freezes $450

Changpeng Zhao, the CEO of Binance, announced on Twitter that 

$450,000 of the money that hackers recently stole from exchange liquidity pool Curve Finance has been recovered. 

The front end of the decentralised finance (DeFi) protocol was compromised, making the platform temporarily exposed.

 Through Binance, hackers attempted to launder stolen money.

About 83% of the cash stolen from Curve earlier this week through an incident have been frozen, according to CZ's statement on Friday. Three days before to this, hackers attacked the DeFi protocol and were able to steal around $570,000.

The CEO of the top cryptocurrency exchange Binance also announced that his company will cooperate with law enforcement to recover and return to users all the money that was stolen during the attack.

In an effort to launder the stolen money, the hackers allegedly moved the money to Binance using various accounts and methods, but they were caught and the money was later blocked.

Fixed Float gets back $200,000 of the money that Curve had stolen.

On Wednesday, Fixed Float, a cross-chain exchange, also declared that it had frozen 112 ether ($200,000) that had been obtained through the attack.

Given that they were instantly located and locked, the hackers may have already lost the majority of the money they took from Curve. One of the reasons the hackers looked to the DEX to launder the money may be because it is not completely decentralised.

 Fixed Float said on Twitter that "our security department has frozen portion of the funds in the amount of 112 ETH." Curve has not yet commented on the return of the cash that were taken.

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