Curve Finance pools were targeted by hackers in a reentrancy attack on July 30, sending shockwaves across the DeFi ecosystem. Cointelegraph compiled the week’s events. The decentralized finance (DeFi) ecosystem has experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing…
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The exploit on July 30 resulted in the theft of roughly $70 million in cryptocurrencies, bringing the bounty close to $7 million. Decentralized finance (DeFi) platforms Curve, Metronome and Alchemix have jointly announced an initiative to recover stolen funds from the recent exploits of Curve’s pools. According to on-chain data, the protocols are offering a…
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The decentralized stablecoin is facing its first stress test since it was released in May, putting its PegKeeper algorithm to work. Curve Finance’s native stablecoin, crvUSD, briefly depegged on Aug. 3, reacting to an uncertain environment surrounding the protocol after its recent exploit. In the course of the day, the stablecoin fell by as much…
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The scheme consists of mirroring addresses and sending dust transactions to users to trick them into sending funds to the scammer’s wallet. Binance CEO Changpeng ‘CZ’ Zhao warned his followers on X about a tricky and increasingly popular scam targeting the crypto community, in which fake wallet addresses are used to defraud users during transactions.…
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The Curve Finance exploit has created a liquidity crisis in the DeFi ecosystem, with several lending protocols rushing to minimize their exposure. Abracadabra Money, a cross-chain lending platform, has proposed increasing the interest rate on its outstanding loans to manage risks associated with its exposure to Curve DAO (CRV). The proposal drew mixed reactions from the community,…
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A vulnerability in the Vyper programming language widely used by DeFi protocols like Curve Finance led to the exploit of multiple Curve liquidity pools on Sunday, July 30. Several Curve Finance liquidity pools were attacked on July 30 due to a vulnerability found in the Vyper programming language. Vyper is a contract programming language created for…
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A number of pools using Vyper have been exploited due to a malfunctioning reentrancy lock that potentially exposes all pools with wrapped Ether (WETH). Decentralized finance (DeFi) protocols are undergoing a stress test following a critical vulnerability was found on versions of Vyper programming language, resulting in the theft of millions of dollars’ worth of…
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Several stable pools on Curve Finance using Vyper were exploited on July 30. Vyper versions 0.2.15, 0.2.16 and 0.3.0 are vulnerable to malfunctioning reentrancy locks. Update (July 30, at 7:55 pm UTC): This article has been updated to provide more details about the exploit Several stable pools on Curve Finance using Vyper were exploited on…
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The total value locked in DeFi protocols remained below $50 billion after another week of exploits. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was dominated by exploits and hacks,…
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The funds have been reportedly taken on the Ethereum blockchain. The number of Bitcoins stolen remains uncertain. Crypto payment platform Alphapo had at least $31 million drained from its hot wallets on Ether (ETH), TRON (TRX), and Bitcoin (BTC), security experts reported on July 22. Since the number of Bitcoins stolen is uncertain, the figures…
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