Crypto exchange giant Binance says it has identified the bad actors suspected to be behind the hack of decentralized exchange (DEX) KyberSwap.
The perpetrators allegedly injected malicious script on KyberSwap’s Google Tag Manager (GTM) on September 1st, enabling them to move users’ funds.
Kyber says that it managed to neutralize the exploit but not before the attackers stole $265,000 worth of assets.
“Notice of Exploit of KyberSwap Frontend: We identified and neutralized an exploit on the KyberSwap frontend. Affected users will be compensated.”
A day following the incident, Binance CEO Changpeng Zhao said that the firm’s security team tracked down the two suspects. The exchange says it’s coordinating with KyberSwap and the authorities.
“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).”
Last month, Binance helped recover 83% of the $570,000 worth of crypto that was stolen from decentralized finance (DeFi) protocol Curve Finance.
In 2020, the firm also helped recover almost all of the $345,000 worth of cryptocurrency that was stolen in what was thought to be an exit scam.
Many members of the crypto community now call Binance the “Big Brother”of the industry as the exchange tends to give support to other crypto firms that suffered security breaches and theft. Zhao says that the company is just extending its help.
“Hopefully not the ‘Big Brother’ role.
We don’t need that in crypto. Just helping out where we can.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Fortis Design