Curve Finance pools exploited in over $24M due to reentrancy vulnerability

According to initial investigation, some versions of the Vyper compiler do not correctly implement the reentrancy guard, which prevents multiple functions from being executed at the same time by locking a contract. Reentrancy attacks can potentially drain all funds from a contract.

A number of decentralized finance projects were affected by the attack. Decentralized exchange Ellipsisthat a small number of stable pools with BNB were exploited using an old Vyper compiler. Alchemix also witnessed $13.6 million outflow, along with $11.4 million exploited on JPEGd’s. Certain type of Curve factory pool is encountering read-only reentrancy attack and causing a total loss of $11m(

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.

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