Binance want the best for crypto space

[sunsilk]

I still see the sad news within that another platform got hacked. It's better if most of these people's money won't be back there again after being retrieved.

Don't deposit it anymore and it's better to be held if you're just holding it and waiting for those rewards. Well, Binance did it again and they're good into this.

Let's see the good thing on this that they're able to recover the money of those affected people and they must learn that they shouldn't redeposit it there again.

[vv181]

It might not come easy, it is probable that the attacker is using stolen personal identifications.

Yup, this is how they cover their tracks, and i have to say i have been stupid enough to give my kyc for some shady projects and i think it's just a matter of time until they are used in some sort of scam. Luckily for me so has so many else so they have ton if IDs to use before mine.

If you are sending your identification to an unregulated and unknown project, then it is safe to say that they pooled users' data and might probably sell it over the black market, or even to anyone who wants to buy it. There is no certainty on what position the data would be used, it could be random or finding based on some criteria.

If I'm not mistaken, I saw a tweet that marked CZ from the victim's statement who actually lost his funds in his Binance account when making a deposit with an address that automatically changed to the thief's address. Unfortunately I can no longer find the tweet.

That is unrelated, this is way more on a back-end job from Binance rather than the user.

[Minecache]

Of course they will do that because they are the one who benefit the most on booming cryptocurrency market. This move by CZ is also a good publicity for Binance at the same time because it will boost there reputation which leads to user increase confidence on using there exchange.

I knew CZ is doing this for a long time since the Luna crash occur that start this crypto dump. CZ main goal is too boost crypto market by protecting its user on fraud.

Although CZ's ultimate goal is to bring more fame to Binance but that is commendable and they deserve that praise and trust, they did a great job of police duty. In my opinion they deserve it.

I hope other exchanges will do the same as binance, this action will help the market filter out scammers who don't want to work hard to make money but just want to attack other people's assets to use.

[bluebit25]

Many of the issues are mentioned around this exchange. I think Binance shows them as a big influence on the market and the strong ecosystem they have. Some of the projects I've looked at before in the gamefi, metaverse, nft, etc. have all been built up effectively and useless. We've seen various arguments, but it's good to know this information and those involved may feel somewhat more reassured.

[kro55]

Since centralized exchanges act as a sort of bank, it shouldn't be too difficult for them to track and prevent money laundering in a manner similar to this. This is considered an advantage from centralized exchanges.

Commendable and commendable action for binance, they are trying as best they can to provide a safe experience for their users, as well as contribute to the prevention of fraud and money laundering in the cryptocurrency industry.

[koang]

Binance is no longer just an exchange, Binance has grown into a body that helps keep order in the crypto space.
Look like only Binance is safe here, Binance sets the highest standards for CEX.
And competitors must work harder to achieve the same reliability and attention that Binance does to users.

Thanks Binance, Thanks CZ for getting most of the money back
Binance has done its best to keep us safu

[Silberman]

Of course they will do that because they are the one who benefit the most on booming cryptocurrency market. This move by CZ is also a good publicity for Binance at the same time because it will boost there reputation which leads to user increase confidence on using there exchange.

I knew CZ is doing this for a long time since the Luna crash occur that start this crypto dump. CZ main goal is too boost crypto market by protecting its user on fraud.

This is the correct interpretation about what happened, private companies care about their own benefits and interests and nothing more, any move that may seem to be beneficial to someone else is a carefully planned tactic designed to increase its popularity, after all they are not a charity and they want to obtain more profits and the way to do this is by creating a good image for themselves, I'm not saying that what they did was not good but we must understand what is behind their intentions before we think that they really care about others and their problems.

[iv4n]

there is no doubt about Binance, one of the best exchanges in my opinion is Binance, back in 2018 or 2019,
Binance was hit by a hack attack, and they really provide comfort and security for every user's funds, and they really do that ,
nothing to lose and everything is safe, that's why Binance is number 1.

Yes, they are fast when it comes to solving problems! And that is what makes them so great, people feel safe there... It's one of the reasons why I think that the BNB coin is great for investing, simply whatever the guys from the Binance team decide to do they do it perfectly! Problems, issues & bugs, are being solved quickly... transactions are always cheap and fast.

Binance is the best, but I also like to use some smaller ones and support them! Crypto space is bigger every year and I believe there's enough free space for all of them!

[hichamito37]

Binance is no longer just an exchange, Binance has grown into a body that helps keep order in the crypto space.
Look like only Binance is safe here, Binance sets the highest standards for CEX.
And competitors must work harder to achieve the same reliability and attention that Binance does to users.

Thanks Binance, Thanks CZ for getting most of the money back
Binance has done its best to keep us safu

Without talking about whether it is a centralized or decentralized exchange, but must admit that binance has worked very well, giving users great experiences. I personally use 3 centralized exchanges but still no exchange gives me the same sense of security as binance gives me.
Really thanks Binance and CZ.

[Baofeng]

The hacker acted like an idiot by not using the mixer, but Binance and CZ did their job like a successful cop. That's why Binance and CZ deserve congratulations. As cryptocurrency users, we should thank them. They have done a beneficial job for our ecosystem.

Well he is so brilliant that he was able to stole that $500,000++ from Curve. Nevertheless as all eyes are watching with his address and he thinks that he is invincible and depositing it to Binance without mixing it, then that is his donwfall.

So almost all the money has been gotten back already and maybe the rest will definitely be retrieved as there is no way that the hackers can't move it without anyone noticing about the remaining stolen funds. And it will be complete if he will be caught and send to jail.

[RussianEnglishTranslation]

The hacker acted like an idiot by not using the mixer, but Binance and CZ did their job like a successful cop. That's why Binance and CZ deserve congratulations. As cryptocurrency users, we should thank them. They have done a beneficial job for our ecosystem.

The best way to secure DApps against hacks would be to deploy them on the internet computer. ICP uses biometrics to secure user accounts and if a DeFi DApp was hacked for example, it's plausible that the hacker could be found based off of his face id or fingerprints.

[Webetcoins]

The hacker acted like an idiot by not using the mixer, but Binance and CZ did their job like a successful cop. That's why Binance and CZ deserve congratulations. As cryptocurrency users, we should thank them. They have done a beneficial job for our ecosystem.

I don't think they are idiot because if they do then they can't be able to pull off a hack. Binance team was only smarter than them, that is why get caught. The funds recovered was only 80 percent and I don't know if that's because the 20 percent are already spent by the hackers or binance fails to locate it but overall, that was still a nice amount and those who lost their funds should be compensated now, maybe not in full so that it's possible for all to receive something.

This is still better than not get anything at all. We can't expect that new exchanges will do the same move because they are only new anyway and even the old and famous exchanges rarely can do this.

[Jaered]

Much as I like Binance and CZ, I think he or they are selective in their favors. I remember the EvoDefi bridge rugpull. The Evo team were moving funds to Binance days before bridging operations were halted. Now during the outcry and subsequent silence of the devs, investors were crying to Binance to freeze Evo wallets funds, but they ignored them. Still rankles in my mind months after

[DevFile90]

I've started trusting Binance exchange since their last hack on the exchange and they reimbursed everyone that was affected, there is never going to be many like CZ so be careful what you wished for, do not try looking for another CZ in every new projects that come your way.

[virasisog]

The hacker acted like an idiot by not using the mixer, but Binance and CZ did their job like a successful cop. That's why Binance and CZ deserve congratulations. As cryptocurrency users, we should thank them. They have done a beneficial job for our ecosystem.

I don't think they are idiot because if they do then they can't be able to pull off a hack. Binance team was only smarter than them, that is why get caught. The funds recovered was only 80 percent and I don't know if that's because the 20 percent are already spent by the hackers or binance fails to locate it but overall, that was still a nice amount and those who lost their funds should be compensated now, maybe not in full so that all can receive something.

This is still better than not getting anything at all. We can't expect that new exchanges will do the same move because they are only new anyway and even the old and famous exchanges rarely can do this.

Hackers have been trying to hack Binance for the longest time but it's just so impressive that Binance has been always ready for this kind of hacking. An exchange should always be wiser and smarter than hackers so they could always protect their users from thieves. As for me, Binance is still the top exchange that could provide us security and safety.

[Silberman]

Hackers have been trying to hack Binance for the longest time but it's just so impressive that Binance has been always ready for this kind of hacking. An exchange should always be wiser and smarter than hackers so they could always protect their users from thieves. As for me, Binance is still the top exchange that could provide us security and safety.

Hackers are without a doubt a threat and the bigger the target the more hackers that want to break their security, however while hackers are technical gifted users many hacks come from social engineering, this tells me that Binance puts a lot of attention on this and on selecting people which can be trusted as a way to avoid an internal job, they seem to understand very clearly that retaining the trust of their customers is key and without it their business could collapse overnight.

[fvb]

There is no doubt that such an exchange is very sensitive to its reputation in the industry. It is a leader in its role of activity. But either the hacker was a beginner and did not foresee all the consequences of his action, or this is a famously twisted plot and not everyone can find out the whole truth.

[$anounimus$]

A good move in my opinion helps to Recover More Than 80% of Funds Stolen in the Curve Finance Attack, but nevertheless, Binance is not always safe from hacking even though Binance is one of the best cryptocurrency exchanges right now and has earned the trust of its users even though has been committed to its customers in terms of security and safety.

[Lubang Bawah]

The binance team have done it again, they have recovered 80% of the lost fund from Curve Finance, the hacker thought no one was watching but he is wrong, every new crypto exchange needs to learn from binance exchange.

https://coinmarketcap.com/alexandria/article/binance-recovers-more-than-80-of-funds-stolen-in-curve-finance-attack

This is what makes investors and traders make binance the first choice, I also keep around 85% of my crypto assets since 2018 and when they apply KYC then I also follow, if the new Exchanges want to succeed, of course, must learn and following Binance.

[danherbias07]

They are the exit point of this hacker, might as well help out than let them go. This will definitely bring them more users if they are doing good deeds for other projects' mistakes about their security. The hacker though seems to have not many options on how he could scatter the hacked cryptocurrencies. He may have Binance only as his option for a getaway car.
Good job though for Binance. Many of these types of situations will happen in the future and I hope they won't miss one.