Yugocean
Valued Contributor
On August 10, Curve Finance suddenly reported a problem with the nameserver, and instructed people to not use the site.
Reason
Actually, some hacker hijacked the DNS of Curve Finance, and inserted a malicious contract on the home page that drained people's wallets when approved by the wallet owner. People complained that their funds were stolen when they found out. The hacker stole assets worth more than half a million dollars.
Cause
Binance CEO, CZ, blamed the use of GoDaddy for DNS.While describing it as insecure, he instructed people not to use it in sensitive social engineering.
Recovery
The hacker also needed to cash out the stolen funds, so the hacker sent funds to Binance in different ways to avoid getting caught, but Binance managed to freeze these funds. On August 12th, Binance recovered $450k of the stolen funds, which is more than 83% of the value. Now Binance is working with LE to return the funds to the owners.
Reason
Actually, some hacker hijacked the DNS of Curve Finance, and inserted a malicious contract on the home page that drained people's wallets when approved by the wallet owner. People complained that their funds were stolen when they found out. The hacker stole assets worth more than half a million dollars.
Cause
Binance CEO, CZ, blamed the use of GoDaddy for DNS.While describing it as insecure, he instructed people not to use it in sensitive social engineering.
Recovery
The hacker also needed to cash out the stolen funds, so the hacker sent funds to Binance in different ways to avoid getting caught, but Binance managed to freeze these funds. On August 12th, Binance recovered $450k of the stolen funds, which is more than 83% of the value. Now Binance is working with LE to return the funds to the owners.
