Binance want the best for crypto space - page 3.

koang

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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 Cool

kro55

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*STOP NOWHERE*

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.

bluebit25

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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.

Minecache

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Quote from: Beparanf on August 13, 2022, 05:25:08 AM

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.

vv181

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Quote from: cryptoperkele on August 13, 2022, 12:29:33 PM

Quote from: vv181 on August 13, 2022, 05:13:13 AM

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.

Quote from: Jody.Drummer on August 13, 2022, 11:28:40 AM

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.

sunsilk

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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.

evichi

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That is a good one from Binance. If other exchanges can exhibit such expertise, then it will go a long way to curb crypto thefts/hackers. This is a plus for Binance exchange. It just shows that they care for the people even to extend their helping hand to Curve Finance. Other exchanges should learn from Binance to have a collective fight against crypto/cyber crimes to rid the society of criminals. Kudos to Binance.

globalpain

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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.

tvplus006

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Quote from: Maliceprime on August 13, 2022, 04:33:27 AM

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.

The Binance team has an excellent team that allows to prevent such theft. But if something like this happens, then she makes every effort to block the stolen funds. And it was unclear what the hacker was counting on when he sent the stolen funds to the Binance exchange?

cryptoperkele

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Quote from: vv181 on August 13, 2022, 05:13:13 AM

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.

Jody.Drummer

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Quote from: Maliceprime on August 13, 2022, 04:33:27 AM

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

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.
The conclusion is that every time we make a deposit or withdrawal, we need to pay attention to the address many times and as much as possible ensure the appropriate initial, middle and end digits. Usually I paste it first to compare whether it's the same or not at least 2 to 3 checks.

Jawhead999

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I mean that's just a common practice from a centralized exchanges and it's easy to trace the funds come from if they're not using any mixer, the news is too exaggerating like Binance is the one who save the hack and recover it with their technical knowledge. They're only need to trace the transaction with similar amount and trace the address, if it's came from the hacker, they can simply freeze the funds and ask the Curve Finance CEO to reverse the transaction.

MAAManda

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It's easy to track transactions on the Blockchain, but Binance did an achievement where they managed to track a transaction that I believe was scripted by the Thief. I'm sure the Binance Team did advanced tracking of this case, we should be proud to have Binance as the #1 trading platform, they are doing everything for the ecosystem in crypto as a whole.

inanilujimi

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Quote from: Jackl87 on August 13, 2022, 10:01:58 AM

Quote from: Maliceprime on August 13, 2022, 04:33:27 AM

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

That was definitely a good action by Binance and i hope that the people that were affected by the hack will get their funds back as soon as possible. I don't agree with your headline of this thread though as i think that Binance main motive or goal is not to help every crypto user and investor as good as possible. Their main goal is to make as much money as possible and so far they were extremely successful doing that.
I always find it a little bit worrying when a company becomes to big and powerful within a certain industry. Just take coinmarketcap for example. It was an independent site to track crypto prices until like a year ago or so. Then binance bought it. Now of course it is a tool of Binance to promote their projects and so on.

I agree with you, so they can easily manipulate the data as they see fit. if it continues like this they have the power to turn right into wrong and wrong into right.
It looks like it is now providing convenience for crypto users but we don't know what will happen in the future.

rugrats

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Quote from: Bitstar_coin on August 13, 2022, 04:54:05 AM

Quote from: Maliceprime on August 13, 2022, 04:33:27 AM

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

I guess centralize exchange does have a good side, if the hacker had liquidate this funds on a decentralized exchange perhaps it would not have been easy to recover the funds. I wonder what the hacker was thinking doing a direct sale on binance! i soon the authority will uncover the identity soon.

Centralized exchanges can prevent money laundering by scammers and terrorists. They can control and monitor all criminal activities if criminals use their exchange. This is one of the good points of centralized exchange.

KYC sometimes they can circumvent the law by buying other KYC accounts but they cannot transfer money out of the exchange.

coinerer

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Binance is ranked number 1 among centralized exchanges. And they have numerous traders on their platform. They have achieved all this thanks to their state-of-the-art facilities and security.Many also use Binance as a trusted wallet and hold largest amount of crypto on there. So I also think that other exchanges have a lot to learn from Binance Exchange.

SaveOurSea

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everyone also admits that, Binance is the best cryptocurrency and the best exchange,
but we must know that Binance is a competitor to Ethereum, and indeed from 2020-2022 Binance is the favorite of the crypto community,
because of cheap gas fees! and the ecosystem continues to grow until now, and one of them is Pancakeswap

Jackl87

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Quote from: Maliceprime on August 13, 2022, 04:33:27 AM

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

That was definitely a good action by Binance and i hope that the people that were affected by the hack will get their funds back as soon as possible. I don't agree with your headline of this thread though as i think that Binance main motive or goal is not to help every crypto user and investor as good as possible. Their main goal is to make as much money as possible and so far they were extremely successful doing that.
I always find it a little bit worrying when a company becomes to big and powerful within a certain industry. Just take coinmarketcap for example. It was an independent site to track crypto prices until like a year ago or so. Then binance bought it. Now of course it is a tool of Binance to promote their projects and so on.

cabron

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Quote from: Bitstar_coin on August 13, 2022, 04:54:05 AM

Quote from: Maliceprime on August 13, 2022, 04:33:27 AM

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

I guess centralize exchange does have a good side, if the hacker had liquidate this funds on a decentralized exchange perhaps it would not have been easy to recover the funds. I wonder what the hacker was thinking doing a direct sale on binance! i soon the authority will uncover the identity soon.

With new like these, those hackers will learn not to trust any CEX. I'm not sympathetic to those hackers but with what CEX are doing today, they could actually just accuse someone are then hold the funds with them until they find something to link the funds to.

80% is huge. Authorities can never get it without CEX help. Good job for Binance. Little have been said about recovering the funds and who are behind it of course so Binance kept their names private, they only will make it public if necessary.

nira09

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Quote from: Maliceprime on August 13, 2022, 04:33:27 AM

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

At first the hacker was smart enough to steal the funds, but eventually became stupid. Maybe he was drunk so he wasted his hacks. If the hacker's account has been verified, he should be arrested in the near future.

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