Hacks and attacks have become an essential part of the crypto verse. while this to attack can be performed in different ways, the motive remains the same. The world’s largest exchange, Binance, grabbed its detective glasses and found that the Uniswap V3 liquidity pool had been compromised. Changpeng Zhao, the CEO of Binance, took to Twitter and revealed the same thing.
In the tweet, CZ warned the network that a hacker had stolen 4295 ETH. In addition, the hacker had already started laundering the stolen money through Tornado Cash.
Things took a different turn when it was confirmed that this attack was phishing. Binance CEO reportedly had ties to the Uniswap team and confirmed the same. A security analyst at MetaMask, Harry Denley, shared the progress of the attack via Twitter.
He noted that more than 73,399 addresses were sent a malicious token. This was done to target the assets of naive investors who assumed the tokens were via a UNI airdrop.
Although this was categorized as a phishing attack, Binance’s CZ received massive backlash.
Binance’s CZ called for it to be “irresponsible”.
The community has become somewhat vulnerable to current market conditions, multiple bankruptcies and hacks. That’s why CZ’s first tweet about the misuse of Uniswap sent shockwaves through the industry. After this, a series of them called out the Binance CEO for scaring the community.
Terra whistleblower, seemed FatMan upset on the whole.
Stupid as f*ck to tweet this instead of asking the team privately, even if it *was* an exploit. The fact that it has nothing to do with the contract (and the Binance team didn’t bother to check) makes it so much worse.”
Nevertheless, CZ praised Uniswap for the fast action. The Binance CEO even apologized for alarming the community.