Binance Found KyberSwap Hackers! – Bitcoin System

Prominent cryptocurrency from the stock markets BinanceKyberSwap had set up an independent investigation team due to the cyber attack.

Binance team, today morning KyberSwap identified the hackers who cyberattacked the platform.

Binance CEO Changpeng Zhao (CZ)In a statement on Twitter, two of the KyberSwap hackers were identified, and the hackers’ information was shared with law enforcement and KyberSwap officials.

#Binance security team has identified two suspects for yesterday’s KyberSwap hack. We have provided the intel to the Kyber team, and are coordinating with LE (law enforcement).

stay #SAFU. https://t.co/tbQBGaGTNG

— CZ 🔶 Binance (@cz_binance) September 3, 2022

KyberSwap executives confirmed this news on Twitter.

1/ ❗️Notice of Exploit of KyberSwap Frontend:

We identified and neutralized an exploit on the KyberSwap frontend. Affected users will be compensated. We have summarized the details in this thread⬇️

— Kyber Network (@KyberNetwork) September 1, 2022

The effort of Binance, the world’s largest cryptocurrency exchange, in such situations is appreciated by the crypto community.

CZ recently denied allegations that the Binance exchange is controlled by China.

“We are deeply saddened by the official treatment of Binance exchange as a criminal organization in China. In contrast, the Western media portray us as affiliated with the Chinese government. Neither of these claims is true.”

How Much Has KyberSwap Damaged?

KyberSwap, a decentralized finance (DeFi) platform, was hacked yesterday.

Hackers transferred $265,000 worth of funds from the KyberSwap platform to their own account. KyberSwap executives announced that they will award a $40,000 reward if hackers return the funds.

As the DeFi industry continues to grow, security vulnerabilities in the area cause great concern for investors. Before KyberSwap, the last victim of hackers was the Polkadot-based Acala Network.