Curve Finance Offers Bounty to Identify Exploiters Behind $61 Million Hack
Curve Finance, a popular DeFi protocol, is offering a substantial reward to anyone who can identify the individuals responsible for draining over $61 million from the platform’s stable pools. The bounty is open to the public and aims to bring about legal consequences for the exploiters.
Key points:
– Curve Finance has extended its bounty offer to the public, encouraging individuals to come forward with information on the hackers.
– The deadline for the voluntary return of the stolen funds has passed, prompting Curve to offer a reward of $1.85 million for identifying the hacker.
– Curve and other affected protocols had previously offered a 10% bug bounty to the hacker, who returned some of the stolen assets but not all.
– The hacker left a message indicating their intention to return the funds but claimed it was not out of fear of being recognized.
– If the hacker chooses to return the stolen funds, Curve will not pursue the matter further.
The $61 Million Reentrancy Attack
A hacker used vulnerable versions of the Vyper programming language to execute reentrancy attacks on Curve Finance’s stable pools, resulting in the theft of over $61 million. This attack affected pools such as Alchemix’s aIETH-ETH and JPEGd’s pETH-ETH, raising concerns within the cryptocurrency ecosystem.
Key points:
– The hacker drained $13.6 million from Alchemix, $11.4 million from JPEGd, and $1.6 million from Metronome.
– The attack highlighted the risks faced by pools using Wrapped Ether.
– The DeFi community rallied to support Curve Finance, with white hat hackers recovering and returning a significant amount of the stolen funds.
Hot Take
Curve Finance’s decision to offer a substantial bounty to identify the exploiters behind the $61 million hack demonstrates their commitment to holding individuals accountable for their actions. This move also emphasizes the importance of security in the DeFi space and the need for continued vigilance against potential attacks. The involvement of the public in providing information further strengthens the community’s resilience against such incidents.
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