‘Big Brother’ Binance Helps Kyber Network Identify 2 Hackers Involved in Its Hack

On September 3, Binance CEO Changpeng Zhao revealed that the exchange has identified two suspects involved in the KyberSwap hack.

Zhao tweeted that the Binance Security team had identified two suspects responsible for the attack and provided the necessary information to the Kyber team.

He added that the exchange was also working with law enforcement to ensure the hackers were arrested.

Recall that on September 1, the Kyber network had suffered a frontend attack that led to the theft of approximately $ 265,000 of user funds.

Kyber’s team had offered the hackers a 15% bounty warning that there was no way for them to cash out the funds without doxing themselves.

Binance is helping compromised platforms get their funds

CZ’s revelation joins a series of recent attempts by the exchange to make its platform much more difficult for malicious players to use.

Recently, Binance helped Curve Finance recover $ 450,000 stolen from the platform. According to CZ, the hacker’s attempt to mask the transfer of the fund to the exchange was detected by the platform.

Binance also recovered $ 5.8 million in funds stolen from Axie Infinity’s Ronin Bridge.

The role of Binance’s big brother

Binance’s efforts in helping other platforms have led one crypto community member to approach the exchange as a Big Brother of the crypto industry.

According to him, “Binance has gone beyond securing its platform to protect the entire crypto ecosystem. There is no other platform that has the will or the resources to help the cryptocurrency industry like Binance.”

CZ, however, rejected the tag saying the exchange “is only helping”. Adding that the cryptocurrency industry doesn’t need a Big Brother.

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