Curve Finance pools were targeted by hackers in a reentrancy attack on July 30, spreading shockwaves across the DeFi ecosystem. Cointelegraph compiled the week’s events.
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Curve Finance pools were targeted by hackers in a reentrancy attack on July 30, spreading shockwaves across the DeFi ecosystem. Cointelegraph compiled the week’s events.
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Most DeFi tokens traded in the red on weekly charts due to the chaos caused by the Curve Finance exploit.
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The exploit on July 30 resulted in the theft of roughly $70 million in cryptocurrencies, bringing the bounty close to $7 million.
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The decentralized stablecoin is facing its first stress test since it was released in May, putting its PegKeeper algorithm to work.
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The proposal drew mixed reactions from the community where some criticized the strategy for buying more CRV even as others are looking to shed exposure.
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Du said the existing challenges were transitory and that he believes the industry would benefit from collective support.
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Michael Egorov is attempting to pay off his mountain of DeFi debts by selling CRV at a discount.
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A Curve Finance hack sparked a sharp sell-off, and while DeFi traders stepped in to support CRV, the possibility of a contagion-level event remains.
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Curve Finance founder Michael Egorov has a total of $100 million in debt backed by over 400 million CRV tokens.
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A vulnerability in the Vyper programming language widely used by DeFi protocols like Curve Finance led to exploit of multiple Curve liquidity pools on Sunday.
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