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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.
⚠️ As of block 151,223,32, there has been 73,399 address that have been sent a malicious token to target their assets, under the false impression of a $UNI airdrop based on their LP's
— harry.eth 🦊💙 (whg.eth) (@sniko_) July 11, 2022
Activity started ~2H ago
0xcf39b7793512f03f2893c16459fd72e65d2ed00c
cc: @Uniswap @etherscan pic.twitter.com/5W51AikFuV
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:
Connected with the @uniswap team. The protocol is safe.
— CZ 🔶 Binance (@cz_binance) July 11, 2022
The attack looks like from a phishing attack. Both teams responded quickly. All good. Sorry for the alarm.
Learn to protect yourself from phishing. Don't click on links. 🙏 pic.twitter.com/FIXebz3iBC
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.
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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