Binance CEO says exchange is closing on $570 million hacker

• Binance founder and CEO Changpeng ‘CZ’ Zhao said law enforcement agencies are helping identify the person behind the attack.

Binance is working with law enforcement to uncover the identity of the person behind the recent attack on the BNB chain that exfiltrated $570 million. Binance CEO Changpeng Zhao clearly on monday.

BNB’s price remains below $280 and a lull in the broader market has limited Binance Coin’s price gains to around 1% over the past 24 hours.

Binance tracks hackers

Speaking during an interview with CNBC.”Squawk Box EuropeZhao, popularly known in the crypto industry as CZ, said major cryptocurrency exchanges will soon track down the hacker’s identity.

According to the Binance chief, tips from unnamed sources across law enforcement have helped the bid to identify the perpetrators.

Zhao said that the Binance team actually chaseEngaging law enforcement agencies around the world is a necessary step to exposing hackers and helping to secure the crypto space.

A BNB chain hack earlier this month involved compromising a cross-chain bridge that allowed the attackers to withdraw 2 million BNB.

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Binance was able to stop the attackers from exfiltrating more funds. Asked A network validator for suspending BNB chains.