{"id":35066,"date":"2022-09-03T07:13:43","date_gmt":"2022-09-03T11:13:43","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=35066"},"modified":"2022-09-03T07:13:51","modified_gmt":"2022-09-03T11:13:51","slug":"binance-uncovers-suspects-in-kyberswap-breach","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-uncovers-suspects-in-kyberswap-breach\/","title":{"rendered":"Binance uncovers suspects in KyberSwap breach"},"content":{"rendered":"\n
Based on an independent investigation, Binance's security team identified two suspects in the $265,000 KyberSwap heist.<\/h5>\n\n\n\n
\"Binance
Binance uncovers suspects in KyberSwap breach<\/figcaption><\/figure>\n\n\n\n

Crypto exchange Binance\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> has identified two suspects who appear to be the perpetrators of a $265,000 breach on the decentralized cryptocurrency exchange KyberSwap.<\/p>\n\n\n\n

On September 1, Kyber Network fell victim to a frontend vulnerability, enabling the attacker to steal $265,000 in user cash from KyberSwap. KyberSwap awarded the hacker a 10% bounty, or around $40,000, as a sort of redress while investigations were ongoing.<\/p>\n\n\n\n

In a related development, the security team at Binance identified two suspects who may have been involved in planning the virtual theft based on a separate investigation. The information had been submitted to the Kyber team, according to Changpeng ‘CZ' Zhao, CEO of Binance.<\/p>\n\n\n\n

\n

#Binance<\/use><\/svg><\/span><\/a> 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<\/use><\/svg><\/span><\/a>. https:\/\/t.co\/tbQBGaGTNG<\/use><\/svg><\/span><\/a><\/p>— CZ \ud83d\udd36 BNB (@cz_binance) September 3, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

As both sides try to corner the hackers, Binance has also started working with law enforcement.<\/p>\n\n\n\n

As the largest cryptocurrency exchange by trading volume, Binance's<\/a> proactive and unselfish efforts to assist investors from other ecosystems weren't ignored, as one of the community members noted:<\/p>\n\n\n\n

\u201cBinance is now playing the role of a big brother in the crypto space. Binance has gone beyond securing its platform to securing the entire crypto ecosystem.\u201d<\/p><\/blockquote>\n\n\n\n

Investors in KyberSwap may witness a rare community-driven hack redemption if Binance's inquiry is successful.<\/p>\n\n\n\n

Recently, CZ took action in response to accusations and unfounded claims that Binance was a “criminal company” with a Chinese basis that “secretly [belongs] in the pocket of the Chinese government.”<\/p>\n\n\n\n

He continued by describing his long-standing relationships with Chinese business associates and colleagues:<\/p>\n\n\n\n

\u201cThe greatest challenge that Binance faces today is that we (and every other offshore exchange) have been designated a criminal entity in China. At the same time, our opposition in the west bends over backward to paint us as a \u2018Chinese company.\u2019\u201d<\/p><\/blockquote>\n\n\n\n

CZ affirmed that Binance <\/a>has never been lawfully incorporated in China and has never conducted business in a manner consistent with a Chinese organization.<\/p>\n","protected":false},"excerpt":{"rendered":"

Based on an independent investigation, Binance’s security team identified two suspects in the $265,000 KyberSwap heist. Crypto exchange Binance has identified two suspects who appear to be the perpetrators of a $265,000 breach on the decentralized cryptocurrency exchange KyberSwap. On September 1, Kyber Network fell victim to a frontend vulnerability, enabling the attacker to steal […]<\/p>\n","protected":false},"author":38,"featured_media":34765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[326,7907],"class_list":["post-35066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-kyberswap"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/shutterstock_2109267230.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/35066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=35066"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/35066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/34765"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=35066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=35066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=35066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}