What happened a short time ago and a hacker UniSwap It turned out that the incident in which a liquidity provider on the company stole its assets was actually independent of UniSwap.
Explaining his suspicions that there was an attack on UniSwap at first, CZ later updated on this statement and stated that the issue was not related to UniSwap.
Binance CEO ‘CZ’ said the warning about the Uniswap attack was made in the public interest. However, he also admitted that it would have been better if he had waited for Ethereum founder Vitalik Buterin’s confirmation before giving the first warning.
Acknowledging that he tweeted before getting approval, CZ said it was better for his reputation to be damaged than for people to lose money.
A few reflections on this “incident” handling. Different information sufficiency, different choices, different impacts.
A thread: 1/9 https://t.co/wxcMPr6JAz
— CZ 🔶 Binance (@cz_binance) July 12, 2022
Hacker Phishing a Liquidity Provider on UniSwap Platform
CZ tweeted earlier Ethereum He said there could be a potential vulnerability in the Uniswap V3 protocol on its blockchain. He stated that the hacker stole 4295 ETH and used Tornado Cash to launder the proceeds. It was later announced that the Uniswap protocol was secure and the attack was a phishing attempt.
But CZ justified his warning by saying that billions of dollars could be lost if there were a real vulnerability:
“I could have waited until I got the specific contact details of the Uniswap team. This would have prevented any “panic” in public. But if this were a real deficit, millions or billions of dollars more could be lost during that time.”
Binance Tried To Get Vitalik Buterin’s Approval
In a screenshot of Binance’s internal chat, CZ briefed his team to ask Vitalik about the vulnerability. However, the famous CEO stated that he made a statement on Twitter without getting approval from Buterin because the public’s money was at stake.
*Not investment advice.