Curio Project Experiences $16 Million Exploit in Ecosystem
Curio, a project aiming to assist companies in unlocking liquidity from their real-world assets, has encountered a $16 million exploit within its ecosystem. The exploit appears to have originated from a vulnerability in permission access logic, enabling the attacker to mint an additional 1 billion CGT tokens. According to Cyvers on X, a web3 detection and prevention project, the attacker currently possesses these CGT tokens, which are valued at nearly $40 million.
The Curio Ecosystem account on X posted an alert on Saturday regarding the smart-contract exploit. It stated that a MakerDAO-based smart contract used within the ecosystem was exploited on the Ethereum side. However, it assured users that all Polkadot side and Curio Chain contracts remained secure. The account emphasized the significance of having a multi-chain infrastructure and mentioned that a recovery plan would be released soon.
Curio Project Faces $16 Million Exploit
Curio, which aims to enable businesses to unlock liquidity from their real-world assets, has been subjected to an exploit worth $16 million within its ecosystem. The exploit occurred due to a vulnerability in the permission access logic, allowing the attacker to generate an additional 1 billion CGT tokens. These tokens are currently held by the attacker and are valued at approximately $40 million.
Cyvers on X, a web3 detection and prevention project, detected the exploit and alerted the community about it. The Curio Ecosystem account on X also acknowledged the situation and explained that the exploit targeted a MakerDAO-based smart contract on the Ethereum side of their ecosystem. However, they assured users that all contracts related to Polkadot side and Curio Chain were secure. They emphasized the importance of having a multi-chain infrastructure and announced that a recovery plan would be shared soon.
Exploit in Curio Project Leads to $16 Million Loss
An exploit worth $16 million has impacted the Curio project, which is designed to facilitate liquidity release from real-world assets. The exploit was made possible by a vulnerability in the permission access logic, enabling the attacker to create an additional 1 billion CGT tokens. These tokens, now in the possession of the attacker, have an estimated value of nearly $40 million.
Cyvers on X, a web3 detection and prevention project, discovered the exploit and reported it to the community. The Curio Ecosystem account on X promptly acknowledged the situation and revealed that the exploit targeted a MakerDAO-based smart contract on the Ethereum side. However, they assured users that all contracts related to Polkadot side and Curio Chain were unaffected. Emphasizing the importance of a multi-chain infrastructure, they stated that a recovery plan would be released shortly.
Curio Project Falls Victim to $16 Million Exploit
The Curio project, created to assist companies in unlocking liquidity from their real-world assets, has suffered an exploit resulting in a loss of $16 million. The exploit exploited a vulnerability in the permission access logic, allowing the attacker to generate an additional 1 billion CGT tokens. These tokens are currently held by the attacker and have an approximate value of $40 million.
Cyvers on X, a web3 detection and prevention project, identified and reported the exploit to the community. The Curio Ecosystem account on X promptly addressed the issue and disclosed that the exploit targeted a MakerDAO-based smart contract on the Ethereum side of their ecosystem. However, they reassured users that all contracts related to Polkadot side and Curio Chain remained secure. Recognizing the significance of maintaining a multi-chain infrastructure, they announced that a recovery plan would be made available in the near future.
Hot Take: Curio Project Suffers $16 Million Exploit
The Curio project, designed to facilitate liquidity release from real-world assets, has fallen victim to an exploit resulting in a loss of $16 million. The exploit exploited a vulnerability in the permission access logic, enabling the attacker to generate an additional 1 billion CGT tokens. These tokens are now held by the attacker and have an estimated value of nearly $40 million.
After detecting the exploit, Cyvers on X promptly reported it to the community. The Curio Ecosystem account on X addressed the issue and confirmed that the exploit targeted a MakerDAO-based smart contract on the Ethereum side of their ecosystem. However, they assured users that all contracts related to Polkadot side and Curio Chain remained secure. Recognizing the importance of maintaining a multi-chain infrastructure, they announced that a recovery plan would be released shortly.
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