Sign Up on MEXC
The Curve Finance hack this week has the DeFi sector extremely alarmed and in tight fear of liquidation. And in a stunning change of events, Curve, Metronome, and Alchemix, three key stakeholders in the Decentralized Finance (DeFi) ecosystem, have united to strike a deal with the “CRV/ETH exploiter 2” to recover a large amount of the monies that were stolen.
Curve And DeFi Giants Send On-Chain Message To Hacker
According to LlamaRisk’s post-exploit analysis, multiple DeFi projects’ pools were compromised, including PEGD’s pETH/ETH: $11 million, Metronome’s msETH/ETH: $3.4 million, Alchemix’s alETH/ETH: $22.6 million, and Curve DAO: about $24.7 million
Curve, Metronome, and Alchemix decided to take matters into their own hands by initiating direct communication with the hacker. In an on-chain message sent to the hacker’s Ethereum address, they assured immunity from any further pursuit by law enforcement if the stolen funds were returned. However, they made it unequivocally clear that non-compliance would result in publicizing the hack and a relentless legal pursuit of the criminal.
The trio offered the hacker a tantalizing deal, promising 10% of the pilfered assets in exchange for returning the remaining 90%. However, with an imminent deadline of August 6 at 0800 UTC, they have warned that failure to comply will lead to a relentless pursuit of the criminal.
The attack exploited a critical vulnerability in versions of the Vyper programming language, targeting four liquidity pools on the widely-used Curve Finance platform. Pools utilizing Vyper 0.2.15, 0.2.16, and 0.3.0 were affected, leading to a significant loss of funds.
The three emphasized the value of on-chain ownership verification for negotiations and offered a direct channel via [email protected] to help with communication. The approaching deadline makes it urgent to find a mutually agreeable solution.
Also Read: Binance Announces Shiba Inu As Collateral Asset, Shibarium’s BONE Listing Coming?
Using USDT For CRV Tokens, Proposal By Aave Dao Member
Aave Decentralized Autonomous Organization (DAO) member has suggested a tactical move to buy CRV tokens using USDT from the Aave DAO treasury in a related development. The proposal attempts to strengthen the DeFi ecosystem and increase the liquidity of the Curve protocol by rewarding GHO liquidity through Curve voting power.
Aave DAO would also benefit from more voting power on the platform and a more advantageous position in the ongoing “Curve wars” as a result of the acquisition. As the deadline approaches, the DeFi community is anxiously watching the outcome of the negotiation.
Also Read: Strong Boost In Bitcoin Address Activity Hints At Short-Term BTC Price Jump
- Michael Saylor Credits Bitcoin for Strategy’s Outperformance Over ‘Mag 7’ Stocks
- XRP Overtakes Shopify, Verizon, Citigroup in Market Value as Price Eyes $6
- Altcoin Season Index Hits New High As ETH, SOL, DOGE, and XRP Rally
- ‘Huge Breakthrough,’ Peter Brandt Says as Dogecoin Reclaims $0.30 Ahead ETF Launch
- Bitcoin Bull Cycle Could Extend To 2026, Arthur Hayes Predicts
- Bitcoin Price Prediction: Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
