Cryptocurrency exchange Binance has reportedly recovered by far the majority of Curve Finance’s stolen funds. They were recently hacked, with $570,000 stolen.
About 80% of funds returned
Changpeng Zhao (CZ) cryptocurrency exchange has reportedly recovered $450,000, or about 80% of the stolen funds. The funds are said to have been sent to the exchange in various ways, but have been spotted. Currently, Binance has contacted its rightful owners to get everything back where it belongs.
The platform was attacked by a hacker the day before yesterday. Although the problem was quickly found and solved, the hacker managed to steal a lot of money. This money was then sent to crypto mixers in an attempt to cover up the trail. Because the hackers sent the money back to Binance, the experts at the crypto exchange were able to find out its origin.
Fortunately, it is more common for stolen funds, or a large part of them, to come back after a hack attack. Nevertheless, these exploits occur regularly. In 2022 alone, there have been many attacks that have been successfully carried out. Although the returns vary per hack, it is not a good sign. According to analytics firm Chainalysis, $2 billion in cash has leaked over cross-chain bridge hacks. This is approximately 69% of the total amount stolen in the year.