Curve Finance Hack: $61 Million Drained from Liquidity Pools
- Curve Finance experienced a hack attack on July 30, resulting in the loss of over $61 million from its Vyper-based liquidity pools.
- The attacker took advantage of a vulnerability in Curve’s Vyper 0.2.15 reentrancy lock.
- Curve Finance offered a bounty to the hacker, but they failed to meet the request.
- The protocol then extended a $1.85 million bounty to the public to encourage the recovery of the stolen funds.
- The attack affected four liquidity pools for Ethereum pairs, including CRV, Alchemix, Metronome Synth, and JPEG’d.
Hacker Returns Stolen Assets, But Not Completely
- The hacker returned stolen assets only to Alchemix and JPEG’d pools, without fully refunding other affected pools.
- The deadline for the exploiters to voluntarily return the funds passed on August 6.
- Curve Finance announced an extended bounty to the public, offering a reward of 10% of the unrecovered stolen funds, approximately $1.85 million.
- The bounty will be given to anyone who provides information leading to the hackers’ arrest and conviction.
- If the exploiter voluntarily returns the remaining funds in full, Curve Finance will drop the case.
Copycat Attack on BSC, Hackers Steal $73,000 in Crypto
- Following Curve Finance’s exploit, the Binance Smart Chain (BSC) also fell victim to a similar attack due to a Vyper programming language vulnerability.
- Hackers stole approximately $73,000 worth of crypto assets on the BSC chain.
Hackers and White Hat Hackers Clash in Recovery Efforts
- White hat hacker “coffebabe.eth” hijacked some funds for safekeeping and requested the affected protocols to contact them for retrieval.
- White hat and black hat hackers have been clashing in their attempts to recover or move the funds.
Hot Take: Curve Finance’s response to the hack shows their commitment to recovering the stolen funds and holding the hackers accountable. By extending the bounty to the public, they are incentivizing individuals to come forward with information that can lead to justice. The clash between hackers and white hat hackers highlights the ongoing battle in the crypto space to protect and secure funds. It’s crucial for projects to address vulnerabilities and strengthen their security measures to prevent future exploits.
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