CRV plunges following ETH pool hack on Curve Finance

Several pools on Curve Finance have been siphoned following a problem with a Ethereum programming language. From tens of millions of dollars were stolen. CRV has heavily fell.

On Sunday evening, Curve Finance reported that some of its liquidity pools (alETH, msETH and pETH) using the Vyper programming language had been exploited.

We are assessing the situation. The other pools are safe. To be clear – the dangerous combination was the affected Vyper version AND the use of pure ETH”, explained Curve Finance.

Vyper is a Python-based language compatible with development on Ethereum (EVM). On Twitter, the Vyper account indicated that versions 0.2.15, 0.2.16 and 0.3.0 were vulnerable to malfunctions of the “ reentrancy locks “.

Curve Finance is a stablecoin exchange protocol consisting of several pools, similar to smart contracts, for exchanging digital coins in a decentralized way. DeFi protocols based on the Curve pools concerned have recorded significant losses.

According to BlockSec, more than 40 million dollars in tokens have been stolen on various protocols. Projects affected include deBridge, Ellipsis, JPEG’d, Alchemix and Metronome DAO. It should be noted that some of the tokens were recovered by ethical hackers.

The blockchain cybersecurity startup added that one of the wallets used during the attack was “financed” by Binance. ” White hat ? Please check Changpeng Zhao”, tweeted BlockSec.

24-hour CRV rate – Messari

Following the drama, Curve’s native token, CRVplunged by over 15%, dropping below $0.60 before rebounding to around $0.64 this morning. The TVL of the protocol plummeted from 3,2 à 1.7 billion dollarsaccording to data provided by Defillama.

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