Binance recovers $450K stolen from Curve DNS Hack

Binance CEO Changpeng Zhao tweeted on August 12 that the exchange has identified and frozen 83% of the funds stolen from Curve Finance after the hacker attempted to launder it through Binance.

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. 😂#SAFU

— CZ 🔶 Binance (@cz_binance) August 12, 2022

Binance is currently working with the appropriate law enforcement agents to return the funds to the users.

Timeline of the DNS Exploit

Curve Finance lost over $570,000 to hackers who hijacked their DNS on August 9. Through DNS spoofing, the Curve website was cloned and made the DNS route to their IP where the cloned website is deployed and added approval requests to a malicious contract.

🚨🚨🚨@CurveFinance frontend is compromised, do not use it until further notice!

— samczsun (@samczsun) August 9, 2022

A swift response from the Curve team resolved the issues, though there were initial constraints for users in certain regions. As of August 10, users can freely access the website.

Finally, DNS settings for propagated everywhere, so it is safe to use in every location on Earth. and chain-specific sites got updated much earlier.

— Curve Finance (@CurveFinance) August 10, 2022


Journalist at CryptoSlate

Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.

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