Upwards of $100 million worth of cryptocurrency are at risk due to a “re-entrancy” bug in Vyper, a programming language used to power parts of the Curve system. Several stablecoin pools on the platform — used for pricing and liquidity on a number of different DeFi services — have been drained by hackers so far.It was unclear at press time how much had been drained from Curve as a result of the attack.
The heist destabilized trading markets for Curve DAO’s native CRV token, which was down 17% on the day at a price of $0.61 as of press time. That price action threatened to compound the chaos by potentially forcing a liquidation on the founder of Curve’s $70 million borrowing position on Aave.
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