The BNB Smart Chain (BSC) and Ethereum’s Curve Finance Hit by Copycat Attacks
The BNB Smart Chain (BSC) experienced copycat attacks due to a vulnerability in the Vyper programming language, similar to the exploits on Ethereum’s Curve Finance. Approximately $73,000 worth of cryptocurrencies were stolen from BSC through three separate exploits. The vulnerability was found in specific versions of Vyper, allowing attackers to drain funds from affected contracts. Several DeFi projects, including Alchemix, PEGd, Metronome, and Curve DAO, suffered significant losses.
Key Points:
- Around $73,000 worth of cryptocurrencies were stolen from BSC through copycat attacks.
- All affected contracts were exploited due to a vulnerability in Vyper versions 0.2.15, 0.2.16, and 0.3.0.
- DeFi projects like Alchemix, PEGd, Metronome, and Curve DAO suffered substantial losses.
- The CRV token of Curve Finance experienced a sharp decline in value.
- An intense battle between white hat and black hat hackers has been observed in the defi community.
The defi community has witnessed an intense battle between white hat and black hat hackers attempting to disrupt each other’s exploit attempts or recover the stolen funds. One potential white hat hacker, “c0ffebabe.eth,” managed to secure some funds and returned nearly 2,900 ETH worth over $5 million to Curve through a transaction. Another transaction revealed the movement of 1,000 ETH to a newly-created wallet for securing the recovered funds.
Hot Take:
The vulnerabilities in the Vyper programming language and the subsequent copycat attacks on the BNB Smart Chain and Ethereum’s Curve Finance highlight the importance of robust security measures in the crypto space. With the growing popularity of decentralized finance, it becomes crucial for developers and protocols to thoroughly audit and secure their code to protect users’ funds. The battle between white hat and black hat hackers shows the constant cat-and-mouse game involved in securing the crypto ecosystem.
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