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Uniswap V3 gets phished for $4.7M

Uniswap was the victim of an 8-hour phishing assault and lost roughly 4295 ETH. Binance Intel assisted Uniswap with the assault, which was halted at 23:00 UTC on July 11, 2018.

Over 4295 Ethereum (ETH) worth more than $4.7 million were stolen from the decentralized exchange Uniswap via a phishing assault on July 11 between 14:00 UTC and 23:00 UTC.

Binance CEO Changpeng 'CZ' Zhao witnessed the attack and stepped in to aid. Uniswap.

Around 16:00 UTC, a security officer at Metamask spotted the assault. He sent out a Tweet informing Uniswap that the attack had begun roughly two hours ago.

CZ also tweeted about six hours later to inform Uniswap about the attack. Zhao stated that the illicit behavior was discovered by Binance threat intelligence, and the hackers had already taken approximately 4295 ETH.

Zhao offered assistance, encouraging the community to reach out to Uniswap.

The onslaught was halted within half an hour. Zhao sent out another Tweet with a screenshot of a chat screen to alert the community.

UNI Price:

While some community members expressed thanks to the Binance staff, others accused them of propagating misinformation.

Regardless, Uniswap's token UNI was down more than 15% throughout the strike.

UNIUSD chart (via tradingview)

As of press time, UNI was trading at $5.551, a 9 percent decrease from its pre-attack price.

Is it true?

Uniswap has expanded its operations despite the market downturn. It formed a Venture Capital fund in early April to help enterprises with similar ambitions to Uniswap.

A week later, Uniswap signaled that it, too, is vying for web3 supremacy by launching "swap widget" website integration.

Finally, by the end of June 2022, Uniswap demonstrated its resilience in the face of the cold by acquiring Genie in order to incorporate NFTs into its platform.

Based on Uniswap's solid reputation and its token's gradual but steady rise despite the bear market, investors believe the phishing assault was a ruse to get notable names to purchase lower.

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