Curve Finance Exploit Puts $100M+ Worth of Crypto at Risk; CRV Token Tumbles

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.

Ireland Ireland Latest News, Ireland Ireland 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 »