Binance has recovered and frozen crypto assets worth over $450,000 that were stolen from Tuesday’s front-end attack on decentralized crypto exchange Curve Finance.
Binance CEO Changpeng Zhao said through a tweet that the exchange is now working with law enforcement agents to return the seized funds to the victims.
Binance froze/recovered $450k of the Curve stolen funds, representing 83%+ of the hack. We are working with LE to return the funds to the users. The hacker kept on sending the funds to Binance in different ways, thinking we can’t catch it. 😂#SAFU https://t.co/Ekea9moeAw
— CZ 🔶 Binance (@cz_binance) August 12, 2022
The news comes two days after another $212,000 worth of ETH was intercepted by the crypto exchange Fixed Float.
The assets seized by Binance represent 83% of the overall amount of crypto assets stolen in Curve Finance’s attack.
The Curve Finance front-end attack
Curve Finance was on August 9 exploited for about $573,000 worth of crypto assets after the attacker(s) spoofed the Domain Name Service in its frontend and redirected users to a phishing site that tricked them into approving a malicious smart contract.
The attacker(s) then converted the stolen assets to ether (ETH) and started sending the ETH to multiple addresses as they tried obfuscating the stolen funds.
But luckily for the victims, the attacker(s) did not do a thorough job in covering his/her tracks since as it stands all of the stolen funds have now been recovered.