Curve Finance Returns 70% of Stolen Funds

14 Aug 2023 3:03 pm GMT+0000 Date Time

DEX Curve Finance Recovers 70% of Stolen Funds in Recent Hack
DEX Curve Finance, a decentralized exchange project, has successfully recovered 70% of the funds that were stolen during a hacking incident on July 30. The project is actively conducting an investigation to recover the remaining balance of the stolen funds. Furthermore, efforts are underway to determine the proportional shares of each affected user to ensure proper distribution. The hacker targeted the Curve pools on July 30 and managed to steal more than $61 million worth of cryptocurrency. The attacker exploited vulnerabilities in older versions of the Vyper programming language. This compromise affected three liquidity pools, including those that were paired with Ethereum (ETH), as well as the control mechanism for Curve (CRV). Additionally, several ERC-20 tokens such as Alchemix (Aleth), Metronome Synth (Smeth), and JPEG’D (PETH) were also compromised due to vulnerabilities in outdated versions of the Vyper compiler, which is used for coding on the Ethereum blockchain. In response to the hack, Curve Finance, along with other affected protocols, extended an invitation to the hacker on August 3 to return 10% of the stolen funds as a reward. This equates to over $6 million. The hacker agreed to return the assets of Alchemix and Jpegd, but did not provide any funds from the other affected pools.

DEX Curve Finance Recovers 70% of Stolen Funds in Recent Hack

DEX Curve Finance, a decentralized exchange project, has successfully recovered 70% of the funds that were stolen during a hacking incident on July 30. The project is actively conducting an investigation to recover the remaining balance of the stolen funds. Furthermore, efforts are underway to determine the proportional shares of each affected user to ensure proper distribution.

The hacker targeted the Curve pools on July 30 and managed to steal more than $61 million worth of cryptocurrency. The attacker exploited vulnerabilities in older versions of the Vyper programming language. This compromise affected three liquidity pools, including those that were paired with Ethereum (ETH), as well as the control mechanism for Curve (CRV).

Additionally, several ERC-20 tokens such as Alchemix (Aleth), Metronome Synth (Smeth), and JPEG’D (PETH) were also compromised due to vulnerabilities in outdated versions of the Vyper compiler, which is used for coding on the Ethereum blockchain.

In response to the hack, Curve Finance, along with other affected protocols, extended an invitation to the hacker on August 3 to return 10% of the stolen funds as a reward. This equates to over $6 million. The hacker agreed to return the assets of Alchemix and Jpegd, but did not provide any funds from the other affected pools.

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