The Return of Stolen Crypto Assets in Curve Finance Exploit
The exploiter responsible for draining $61 million assets from decentralized exchange Curve Finance has returned some of the stolen crypto after engaging in talks with one of the victims. The looter transferred almost $10 million of ether (ETH) and alETH to Alchemix’s multisignature wallet. This development has sparked hope that the majority of the stolen assets will be recovered. The governance token of Curve, CRV, has already seen a 5% increase in value. In response to the exploit, the affected protocols offered a 10% bounty for the return of the assets. The Curve exploit caused panic among investors, resulting in the withdrawal of assets and a significant drop in CRV token price. Curve founder Michael Egorov sold a portion of his CRV stash to avoid liquidation and repay loans.
Key Points:
- The exploiter has returned some of the stolen assets after engaging in talks with one of the victims.
- Almost $10 million of ether (ETH) and alETH has been transferred back to Alchemix’s multisignature wallet.
- The return of stolen assets has sparked hope for the recovery of the majority of the stolen crypto.
- Curve’s governance token, CRV, has seen a 5% increase in value following the return of assets.
- A 10% bounty was offered for the return of the assets by the affected protocols.
Hot Take:
The return of stolen crypto assets in the Curve Finance exploit is a positive development for the victims and the crypto community as a whole. It highlights the potential for recovery and the importance of addressing vulnerabilities in decentralized exchanges. However, it also serves as a reminder of the risks associated with the crypto space and the need for ongoing security measures. The actions taken by Michael Egorov, including selling a portion of his CRV stash, demonstrate the lengths individuals may go to mitigate the impact of such exploits. Overall, this incident underscores the importance of vigilance and proactive measures to safeguard crypto assets.
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