Curve Finance, Alchemix, and Metronome Collaborate to Recover Stolen Funds

Decentralized Finance Platforms Collaborate to Recover Stolen Funds

Curve Finance, Alchemix, and Metronome have joined forces to recover the stolen funds following the recent exploits on Curve’s pools. The exploit resulted in a loss of approximately $70 million worth of crypto assets, prompting the three platforms to offer a 10% bounty to the hackers in exchange for returning the remaining 90% of the stolen funds.

Key Points:

The three DeFi platforms have offered a 10% bounty to the hackers as a reward for returning the stolen funds.
Curve Finance assured the hackers via Etherscan that they would face no legal actions or involvement of law enforcement if they chose to return the funds.
The hackers have been given a deadline of 6th August to accept the offer, after which the bounty will be expanded to the public.
Curve and the other protocols have established a direct line of communication with the hackers, urging them to respond and avoid legal action.
The Curve exploit involved a vulnerability in Vyper called a reentrancy bug, resulting in the theft of $70 million worth of crypto assets.

Hot Take:

The collaboration between Curve Finance, Alchemix, and Metronome to recover the stolen funds demonstrates the determination of the DeFi community to address the challenges posed by exploits. By offering a bounty and extending the opportunity for the hackers to return the funds without legal consequences, the platforms are striving for a civilized resolution. However, the deadline and the potential expansion of the bounty to the public serve as a final warning to the hackers. It remains to be seen whether the hackers will accept the offer or face the full extent of the law.