DeFi Platform Curve Offering $1,850,000 Bounty for Identity of Hacker
Curve (CRV) is offering a $1.85 million bounty to anyone who can identify the hacker responsible for draining the decentralized finance (DeFi) platform of tens of millions of dollars in crypto assets. The bounty is now open to the public after the deadline for the voluntary return of funds passed. The hacker will only be pursued if they do not return the funds in full. Several liquidity pools on Curve lost over $41 million due to the hack, causing the total value locked (TVL) on Curve to drop from $3.25 billion to $1.58 billion. Curve’s TVL has since recovered to around $2.4 billion. The native token CRV also experienced a significant drop in value and has yet to fully recover.
– Curve is offering a $1.85 million bounty to identify the hacker responsible for the DeFi platform hack.
– The hacker will only be pursued if they do not return the funds in full.
– Several liquidity pools on Curve lost over $41 million due to the hack.
– The total value locked on Curve dropped from $3.25 billion to $1.58 billion after the incident.
– Curve’s native token CRV experienced a significant drop in value and has yet to recover fully.
Hot Take
Curve’s decision to offer a substantial bounty shows their determination to hold the hacker accountable for the DeFi platform hack. The incident not only resulted in significant financial losses but also triggered a liquidity flight on the platform. The recovery of Curve’s TVL and CRV’s value will heavily depend on the outcome of the bounty and whether the hacker chooses to return the funds. The DeFi industry as a whole will be closely watching to see if this approach leads to identifying and prosecuting the hacker, setting an example for future incidents.
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