CZ Asks Terraport Finance to File Civil Case Against Its Hackers

  • “We have a SOP for it, it’s faster than going through me,” CZ responded when asked to freeze the funds.
  • Zhao later updated that Binance did not receive any funds from the hack.

Binance CEO Changpeng Zhao, better known as CZ, requested Terraport Finance to submit a civil case against the recent Terraport Liquidity wallet hack that stole almost 9.5 million TERRA, 15 billion LUNC, and 5.5 million USTC.

Earlier today, Terra Luna Classic’s DeFi project Terraport Finance shared a Twitter post announcing that the firm detected a breach.

A breach was detected in the Terraport Liquidity wallet this morning. The Terraport team is currently investigating this breach and efforts have been made to secure the protocol. Further official press release will be released later. We appreciate the understanding of our large community.

Immediately after the report, the entrepreneur Rajia Bibi tweeted requesting the Binance CEO to stop the transfer of funds that have been drained by the Terraport hackers, claiming that the funds have been transferred to the crypto asset exchanges, including Binance and MEXC Global.

Subsequently, CZ commented to “submit a civil suit (CS) case as soon as possible.” He said he is a “slow middleman” and couldn’t help as he doesn’t know the exact account or address of the transaction. He added that the Standard Operating Procedure (SOP) they have would be much faster in solving the problem than going through him.

CZ later updated that Binance did not receive any funds from the hack. However, some of the stolen funds were deposited in MEXC and KuCoin, over which Binance has no control.

Moreover, a member of the Terraport marketing team, Classy Crypto, revealed that a hacker had drained the TERRA liquidity. He pointed out that many of his acquaintances have lost thousands, adding that the company should have been audited before its launch.

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