KiloEx Hack: Binance Helped Recover $6.1 Million In Lost Funds
The post KiloEx Hack: Binance Helped Recover $6.1 Million In Lost Funds appeared on BitcoinEthereumNews.com. Key Notes Binance exchange’s security team joined a few others to investigate and track the $7.5 million fund. The attacker executed a series of transactions on Base, BNB Chain, and Taiko networks which were tracked. KiloEx gave the hacker a 10% bounty, but Binance’s recovery nullifies it. Under the leadership of CEO Richard Teng, Binance has played an important role in recovering stolen funds from the KiloEx hack. The exchange successfully recovered over $6.1 million in cryptocurrencies after the decentralized exchange (DEX) suffered an attack that resulted in the loss of around $7.5 million across various digital assets. Binance Inks Collaboration to Assist KiloEx In a post addressed to the broader crypto community, Teng highlighted Binance’s involvement in responding to the KiloEx hack. He shared a link to a Binance article outlining the exchange’s role in recovering the stolen funds. According to the post, Binance’s security team acted swiftly once the exploit was detected and reported. $6.1M traced, blocked, and largely recovered by @binance after the KiloEx exploit! 90% of stolen assets are back thanks to ecosystem teamwork and law enforcement. Learn how
The post KiloEx Hack: Binance Helped Recover $6.1 Million In Lost Funds appeared on BitcoinEthereumNews.com.
Key Notes Binance exchange’s security team joined a few others to investigate and track the $7.5 million fund. The attacker executed a series of transactions on Base, BNB Chain, and Taiko networks which were tracked. KiloEx gave the hacker a 10% bounty, but Binance’s recovery nullifies it. Under the leadership of CEO Richard Teng, Binance has played an important role in recovering stolen funds from the KiloEx hack. The exchange successfully recovered over $6.1 million in cryptocurrencies after the decentralized exchange (DEX) suffered an attack that resulted in the loss of around $7.5 million across various digital assets. Binance Inks Collaboration to Assist KiloEx In a post addressed to the broader crypto community, Teng highlighted Binance’s involvement in responding to the KiloEx hack. He shared a link to a Binance article outlining the exchange’s role in recovering the stolen funds. According to the post, Binance’s security team acted swiftly once the exploit was detected and reported. $6.1M traced, blocked, and largely recovered by @binance after the KiloEx exploit! 90% of stolen assets are back thanks to ecosystem teamwork and law enforcement. Learn how
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