Symbiosis Tries to Stop Binance Incident-Linked Funds From Moving

Symbiosis is trying to stop funds linked to Binance’s recent security incident from moving through its protocol after detecting an attempted transfer, the decentralized protocol said Sunday.

The team has contacted Binance and is working to block the movement. Symbiosis said its screening mechanisms are designed mainly for ordinary fund flows, so fast and complex transfers can be difficult to trace. It said some mechanisms have vulnerabilities and are being fixed one by one.

The update centers on the transfer attempt, the protocol’s effort to stop it and changes to the monitoring tools it uses to screen fund flows. Symbiosis said its tools were designed around normal activity, while quick, complex transfers can be harder to follow.

Users whose transfers remain pending or whose funds were mistakenly returned can contact Symbiosis for help. The team is also patching the screening mechanisms, which it said have vulnerabilities. It said it is addressing those gaps one by one.