Cryptos stolen, frozen, soon to be returned? – On the evening of August 9, 2022, Curve Finance’s DeFi protocol teams had to alert that the frontend (the public interface) of their official website had been hacked. As a result, the equivalent of $570,000 worth of cryptocurrencies was stolen. But that was without counting on an interception of these funds by the crypto exchange Binance.
BINANCE GETS ITS HANDS ON A BIG CHUNK OF THE STOLEN LOOT VIA CURVE

A few days ago Curve Finance experienced a major problem on its domain name Curve.fi. Indeed, the DNS of the protocol’s website had been hacked, allowing the attackers to place a spoofed smart contract. This smart contract deceived Curve users in order to steal their precious cryptos.

The equivalent of $570,000 worth of crypto-assets were misappropriated before the hack was discovered. But fortunately, in this misfortune, it seems that the hackers had far too much confidence in the crypto exchange Binance.

Indeed, the latter has spotted a good part of the fraudulently acquired cryptos, and has immediately frozen them! It is Changpeng “CZ” Zhao, the CEO of Binance, who announced in person the freezing of 83% of the loot on his Twitter account:

“Binance has frozen/retrieved $450,000 of the stolen Curve funds, which is over 83% of the hack. We are currently working to return the funds to users. The hacker continued to send the funds to Binance in a variety of ways, thinking we wouldn’t be able to catch him.”

So the story has a rather happy ending for Curve users, who will at least get a good portion of their cryptos back. However, it reminds us that Binance has updated its terms of use in France, and that the platform can unilaterally freeze “your” (its) cryptos at any moment if it suspects anything.