CZ draws criticism after raising false alarm about Uniswap

Binance’s CZ was called out for scaremongering after an alleged Uniswap exploit, which he reported an hour after posting a selfie with French President Emmanuel Macron, turned out to be a phishing attack.

Binance CEO Changpeng Zhao (CZ) tweeted last night that there had been an exploit on Uniswap v3 on the Ethereum blockchain, adding that the hacker stole 4,295 ETH and was in the process of laundering it on Tornado Cash.

CZ asked to be put in touch with the Uniswap team, which did not provide direct contact information to Binance upon listing. According to CZ, his exchange had waived the requirement for Uniswap on the grounds that it was decentralized and a “strong project with lots of users, and grandfather for DeFi.”

But CZ’s tweet promptly sparked criticism as premature when it became apparent that the funds had been lost due to a phishing attack rather than a flaw in Uniswap’s smart contract. A mere hour earlier, CZ posted a selfie with President Emmanuel Macron of France, with whom he was having dinner.

The hack was reported by the Binance threat intel team, prompting some to suggest that it had been their mistake, but also raising concern about communication within the company and CZ’s effective spokesperson status.