• According to CZ, the Binance security team has identified two individuals in the KyberSwap hack

  • Changpeng Zhao (CZ), CEO of Binance, provided an update on the KyberSwap hack today, disclosing that his company’s security team had identified two individuals.

    “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),” CZ tweeted.

    In response to a tweet praising the exchange’s measures and referring to it as “big brother” in the crypto realm, the CEO stated, “Hopefully not the role of “big brother.” That is not required in crypto. We’re just trying to help where we can.”

    KyberSwap is a multichain DEX aggregator that was hacked in the frontend, resulting in the theft of $265,000 in user cash.

    The Kyber team informed victims of the hack that they would be paid for any monies lost and offered the hacker a 15% bounty if the funds were restored.

    The code hack was discovered on Thursday about 2:30 a.m. EST. In an official notification, KyberSwap stated, “We found a malicious code in our Google Tag Manager (GTM) which inserted a phony permission, allowing a hacker to transfer a user’s cash to his address.”

    The exploit was stopped around two hours after the team started investigating. It advised consumers to exercise caution when utilizing its platform.

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