Curve Finance's Token Surges 500% on Bithumb After Major Exploit

that risked $100 million worth of digital assets. In a knee-jerk reaction, CRV's dollar-denominated price tanked over 15%, threatening and threatened the liquidation of a significant borrowed position on Aave and raising the risk of market-wide contagion.

However, CRV's price denominated in Korean won rose sharply. At press time, Bithumb's CRV/KRW pair changed hands at KRW 5,565 , up more than 500% for the day, according to charting platform TradingView.Per Bithumb's local rival Upbit, some of Curve's stablecoin pools were affected by the reentrancy attack, which is responsible for the volatility in CRV. Upbit suspended withdrawals and deposits of CRV to ensure the safety of digital assets transactions.

While the exploit is bad optics for Curve, some prominent industry players remain confident of CRV's long-term prospects. "In the coming RWA wave, $crv is one of the most important infrastructures. I have BTFD. NFA," Jihan Wu, co-founder of Bitman and Matrixport,

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