Hacking News
Binance Hacker Uses DeFi to Escape Freezing
The hacker of the Binance exchange allegedly used DeFi protocols to escape freezing of stolen USDT and USDC. After freezing billions of dollars in USDT, Tether and Circle froze USDC. The hacker then deposited the stolen USDT into Aave as collateral to borrow ETH. The hacker is now sitting on liquid ETH without needing to pay back the loan, as Tether can only freeze USDT in wallets, not ETH borrowed through DeFi.