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The decentralized cryptocurrency exchange KyberSwap was hacked for $265,000, and the cryptocurrency exchange Binance found two people who seem to be behind the attack.

On September 1, an attacker used a frontend exploit to steal $265,000 from KyberSwap. As a way to fix the problem while investigations were going on, KyberSwap offered a 10% bounty, or about $40,000, to the hacker.

DeFi Exchange KyberSwap Suffers $265,000 Frontend Exploit - Decrypt
At the same time, an independent investigation helped Binance's security team find two people who may have been behind the virtual heist. Changpeng "CZ" Zhao, the CEO of Binance, said that the information had been sent to the Kyber team.

Binance has also started working with the police to catch the hackers. Both sides are working hard to catch them.

As the biggest crypto exchange in terms of trading volume, Binance's proactive and selfless effort to help investors from other ecosystems didn't go unnoticed, as one community member pointed out:

"Binance is now the big brother of the cryptocurrency world. Binance has done more than just secure its own platform; it has also secured the whole cryptocurrency ecosystem.
Kyber Network offers bounty following $265,000 hack
If Binance's investigation turns out to be true, KyberSwap investors may see a rare hack redemption that was done by the community.

CZ recently fought back against rumors and false claims that Binance was a "criminal entity" based in China that "secretly" worked for the Chinese government.

While talking about his long-standing relationships with Chinese businesspeople and colleagues, he added:

"Binance's biggest problem right now is that China has labeled us and every other offshore exchange as criminal organizations. At the same time, our rivals in the West do everything they can to make us look like a "Chinese company."

CZ confirmed that Binance has never been a legal company in China, and that it has also never been run like a Chinese company.

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