Binance identifies and involves law enforcement in the investigation of KyberSwap hack suspects

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Last Updated on September 3, 2022 by Bitfinsider

Based on an independent investigation, Binance’s security team identified two suspects who may have orchestrated the $265,000 virtual heist on KyberSwap.

Binance, which is assisting in the investigation of a $265,000 hack on decentralized crypto exchange KyberSwap, has narrowed down two suspects who appear to be responsible for the attack.

On September 1, Kyber Network fell victim to a frontend exploit, allowing the attacker to steal $265,000 in user funds from KyberSwap. While the investigation was ongoing, KyberSwap offered the hacker a 10% bounty — roughly $40,000 — as a means of resolving the situation.

Similarly, based on an independent investigation, Binance’s security team identified two suspects who may have been involved in the virtual heist. Changpeng ‘CZ’ Zhao, CEO of Binance, confirmed that the information had been sent to the Kyber team.

Binance has also begun coordinating with law enforcement as both parties work to apprehend the hackers.

If Binance’s investigation is successful, KyberSwap investors may witness a once-in-a-lifetime community-driven hack redemption.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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