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Web3 Is Going Great

2024-04-30 [vendor] Changpeng Zhao
Primary Source ↗

Incident Details

Former Binance CEO Changpeng “CZ” Zhao has been sentenced to four months in prison after pleading guilty to money laundering-related charges. The charges were filed in November, and Zhao entered a guilty plea, resigned from the company, and agreed to pay a $50 million fine.Prosecutors sought a three year sentence for Zhao, while Zhao requested to serve no time. The judge ultimately decided on a sentence closer to the five-month sentence that was being recommended by the Probation Office.

Technical Details

Initial Attack Vector
Regulatory / legal action
Vendor / Product
Changpeng Zhao

Timeline

  1. 2024-04-30 Breach occurred
  2. 2024-04-30 Publicly disclosed