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Curve Finance vows to reimburse users after $62M hack

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Decentralized finance platform Curve Finance has officially stated its intention to reimburse users impacted by the recent hack resulting in $62 million of losses.

Decentralized finance platform Curve Finance has officially stated its intention to reimburse users impacted by the recent hack resulting in $62 million of losses.

to an X post from its official account, ongoing investigations are yielding progress, with approximately 79% of the funds successfully recovered. The platform also said it would assess each impacted user for reimbursement. This assessment aims to ensure an equitable distribution of resources. The incident on July 30 involvedWhile 70% of funds affected by the hack last week are recovered, active investigation with regards to the rest is underway.

In the meantime, we are also working on measuring the respective shares of each affected user with the goal of proper distributionThe individual behind the hack directed their attack at versions 0.2.15 to 0.3.0 of the Vyper compiler. Identifying the vulnerabilities demanded a significant degree of skill and substantial resources, as highlighted by experts in the field.

One contributor to Viper said the attack was likely planned for weeks before execution. Among the pools exploited were CRV/ETH, alETH/ETH, msETH/ETH and pETH/ETH. Furthermore, there is growing concern that the tri-crypto pool on Arbitrum might also have been exploited.The attack rippled across the entire DeFi ecosystem.

 

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