Curve Finance (CRV) Exploit Saga Takes New Turn

Curve Finance Exploiter to Return Funds?

Curve Finance on August 9 again asked CRV/ETH exploiter to return funds to Curve DAO Ownership agent wallet address “0x4090.” It’s unclear whether exploiters again contacted Curve to return the remaining funds.

advertisement

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Trading Bots List 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

Curve Finance earlier extended the bounty to the public for a reward valued at 10% of the remaining exploited funds as the deadline passed. Anyone who identifies the exploiter in a way that leads to a conviction in the courts will get $1.85 million in reward.

Meanwhile, Curve Finance founder Michael Egorov is above halfway to paying off his $80 million debt through OTC sales of CRV tokens. Since the sale of CRV through OTC began on August 1, Curve founder has sold nearly 145 million CRV to 31 investors and institutions in exchange for almost $60 million in funds.

Also, the Aave community has blocked Curve DAO Token (CRV) borrowing to prevent the liquidation risk of Curve Finance founder Michael Egorov’s debt that could trigger a contagion and possibly a DeFi crash.

Also Read: Shiba Inu Lead Developer Hints At Imminent Shibarium Mainnet Release

CRV Price Above Liquidation Level

Michael Egorov is under liquidation pressure as CRV price fell after the $61 million hack. DeFi platforms such as Aave will sell CRV collaterals if CRV price hits $0.368, which could trigger contagion and potentially a DeFi crash.

CRV price jumps 1% in the past 24 hours, with the price currently trading at $0.60. The 24-hour low and high are $0.597 and $0.616, respectively. The price soared 10% after attackers started to return funds, but the momentum has slowed.

Also Read: Terra Luna Classic L1 Developer Team Announces Core Upgrade, LUNC To Recover?

Comments

Post a Comment

Popular posts from this blog

Why Did Vitalik Buterin Get 50% of Shiba Inu? Is He The Founder?

Image
The Shiba Inu (SHIB) team made a historic move after the token’s launch in August 2020 by sending Ethereum co-founder Vitalik Buterin half of the project’s entire supply. Buterin is one of the most recognized figures in the crypto industry. Sending him half the supply was a move that garnered substantial trust among crypto enthusiasts. However, Buterin did not hold on to the coins he received. Instead, he burned 90% of the SHIB he received and donated the rest to charity. His actions led to a massive dip in supply, which consequently led to a big price rally. However, many still wonder why the SHIB team decided to send Buterin half of the supply upon launch. Is Buterin a secret founder of Shiba Inu (SHIB)? Let’s discuss. Is Vitalik Buterin a Secret Founder of Shiba Inu? Source: Pexels Shiba Inu (SHIB) was created by an anonymous figure known only as Ryoshi. When Buterin received half of SHIB’s supply, there was a lot of talk about whether he was the man behind Ry...
Read more

US Senate Passes GENIUS Stablecoin Bill in Landmark Vote

Image
The United States Senate has approved the Generational Economic Network for Internet-based Universal Settlements (GENIUS) Act, a comprehensive measure aimed at regulating dollar-pegged stablecoins and providing legal clarity for the rapidly growing digital-asset sector. Senators backed the legislation by a vote of 68 on the 17th of June, sending it to the Republican-controlled House of Representatives and, if adopted there, on to President Donald Trump for signature. Bipartisan Coalition Signals Changing Politics of Crypto Support for the bill cut across party lines after months of negotiation. Lead sponsor Senator Bill Hagerty, a Tennessee Republican, said the Act “ushers in a new era of payments”, while Democratic co-sponsors argued that comprehensive federal rules were long overdue to protect consumers and encourage responsible innovation. Twelve Democrats ultimately joined 56 Republicans, reversing an earlier attempt to block the measure in May and underlining th...
Read more

U.S. Millionaire Says Gold Prices 'Will Go Very High'

Image
Millionaire and veteran investor in the U.S. markets Jim Rogers predicted that gold price s “will go very high” next. The XAU/USD index, which tracks the Spot Gold prices shows the precious above the $2,300 mark on Thursday. The commodity is attracting buying pressure from retail investors, institutional funds, and central banks of developing countries. Also Read: Goldman Sachs Predicts Copper Prices To Surge 20%, Hit $12,000 The massive accumulation is what’s driving gold price s up making it print new highs every month in 2024. Rogers explained that if there’s a problem in the stock market, gold price s stand to benefit and will be the first commodity to skyrocket. The global stock market remains on a slippery slope due to the ongoing conflict in the Middle East between Iran, Israel, and Palestine. Also Read: Chinese Businesses Hoard US Dollars Fearing the Yuan Could Weaken Gold Prices To Go ‘Very High’, Explains Jim Rogers Sour...
Read more