Binance CEO <a href="https://www.cryptoknowmics.com/news/changpeng-zhao-emphasizes-the-need-for-bitcoin/" target="_blank" rel="noopener">Changpeng Zhao</a> reported a potential exploit on Uniswap V3, a noncustodial automated market maker implemented for the Ethereum Virtual Machine. Zhao believes this could be a phishing attack and not a flaw within the smart contracts.
<h2>CZ Alerts of a Potential Phishing Attack on Uniswap V3</h2>
A few hours ago, the CEO of Binance, Changpeng Zhao alerted the community of a potential exploit on UniswapV3 on the ETH blockchain.

Attaching the link of an Etherscan address, Zhao revealed that the hacker, so far, has stolen 4,295 Ether or $4.7 million, at the time of writing. The stolen ETH were being laundered through <a href="https://tornado.cash/" target="_blank" rel="nofollow noopener">Tornado Cash</a>, a cryptocurrency mixer, which makes it difficult to identify the perpetrator.

https://twitter.com/cz_binance/status/1546624143432433664

Shortly after Zhao's initial tweet, he tweeted a screenshot of a conversation with the <a href="https://www.cryptoknowmics.com/news/uniswap-technical-analysis-uni-bulls-retesting-a-critical-resistance-level/" target="_blank" rel="noopener">Uniswap</a> team. The team notified him that they believe it was not an issue with the protocol’s code, but rather a phishing attack that resulted in the theft of a Uniswap V3. Reportedly, Uniswap's smart contract is safe.
<blockquote><em>"We have looked into it and believe it is not an issue with the protocol but rather a phishing attack that resulted in the theft of a Uniswap V3,"</em> Uniswap protocol wrote.</blockquote>
https://twitter.com/cz_binance/status/1546631971626958848
<h2>Binance's Security Team Discovered the Attack</h2>
The attackers reportedly changed the event data on the <a href="https://www.cryptoknowmics.com/news/santander-to-host-global-blockchain-awards-ceremony-in-decentraland/" target="_blank" rel="noopener">blockchain</a> to make it appear that Uniswap was airdropping tokens to the users of the platform. The contract then directed users to a website that looks similar to Uniswap. Once users connected their wallets, their cryptocurrency was drained from their wallets.

The security breach was initially discovered by Binance's threat intel which regularly scans public blockchains. A set of transactions on Uniswap V3 Positions triggered an alarm during its regular scanning activity on Tuesday.

Binance CEO Reports a Potential Exploit on Uniswap V3

Binance CEO Changpeng Zhao reported a potential exploit on Uniswap V3, a noncustodial automated market maker implemented for the Ethereum Virtual Machine.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Binance CEO Reports a Potential Exploit on Uniswap V3

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