Bitcoin price holds above $29,000, unmoved by Curve Finance hack

The world's largest digital asset by market capitalization fell 0.5% to $29,218 at 1:19 p.m. ET, according to. It's remained relatively stable, trading within a narrow range between around $29,000 and $31,500 for over six weeks.

"Bitcoin isn't budging, and other high liquidity tokens like Ether seem to be so far unaffected," Justin d'Anethan, head APAC business development at Keyrock, told The Block, commenting on the Curve Finance hack on Sunday that spread concerns throughout the world of decentralized finance. "Unfortunately, the Curve Finance event is a sober reminder that, no matter how legitimate a protocol or a founding team might be, there are still risks associated with dApps that need to be considered in conjunction with the benefits of decentralized and self-custodial solutions," he addeed.that long-Bitcoin investment products made up 93% of the digital assets outflows in the past six months.

Coinshares data suggests trading volumes for digital asset investment products have dropped across the entire crypto-market. This was reflected in the broader bitcoin market, which saw a total of $16 billion traded last week on worldwide exchanges, compared to the weekly average this year of $52 billion.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Curve Finance factory pools targeted due to reentrancy vulnerabilityFactory pools on Curve Finance faced a reentrancy vulnerability, a security flaw allowing potential funds drain from interrupted contract calls.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Curve Finance pools exploited in over $24M due to reentrancy vulnerabilitySeveral stable pools on Curve Finance using Vyper were exploited on July 30, with losses reaching $24 million at the time of writing. Several stable pools on Curve Finance were exploited on July 30, with losses reaching $24 million. According to Vyper, its 0.2.15, 0.2.16, and 0.3.0 versions are vulnerable to malfunctioning reentrancy locks, leaving projects relying on these versions exposed to potential risks.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Curve Finance Exploit Puts $100M+ Worth of Crypto at Risk; CRV Token TumblesMore than $100M-worth of cryptocurrency could be at risk due to a bug impacting Curve, a stablecoin exchange at the center of Ethereum’s DeFi ecosystem.
Source: CoinDesk - 🏆 291. / 63 Read more »

Crypto Futures Show Bias for Uniswap's UNI Token After Curve Finance ExploitUNI perpetual futures trade at 20% premium as traders expect Uniswap to gain even more market share after the CRV exploit, one research head said.
Source: CoinDesk - 🏆 291. / 63 Read more »

Ethereum logs $1M MEV block reward amid Curve Finance exploitThe Curve Finance exploit has led to 'some of the largest MEV reward blocks in Ethereum’s history,' according to Ethereum core developer econoar. econoar “A bot notices an incoming hack in the mempool, reproduces the tx [transaction] and front runs it”, he explained before adding, “To do so they pay the block producer a lot of ETH to be front of the line.”
Source: Cointelegraph - 🏆 562. / 51 Read more »

Upbit suspends CRV deposits and withdrawals amid Curve Finance exploitSouth Korean crypto exchange Upbit has suspended deposits and withdrawals for Curve Finance's token, CRV.
Source: TheBlock__ - 🏆 464. / 53 Read more »