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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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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Twitter accounts impersonating Curve Finance have also started to promote a fake refund scheme further targeting victims of the hack.
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The highest recently generated block reward was 584 ETH, created by a MEV bot front-running transactions during the DeFi chaos.
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Several stable pools on Curve Finance using Vyper were exploited on July 30.
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According to initial analysis by Peckshield, the root cause for Conic Finance’s hack was the new CurveLPOracleV2 contract.
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The stablecoin pool ideally has a weightage of 33.3% of each USDT, USDC and DAI, however, on June 15, the USDT weightage rose above 70% in the pool.
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Decentralized finance protocol CurveDAO has successfully launched its algorithmic stablecoin crvUSD on the Ethereum network.
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The sun sets on algorithmic stablecoins as Frax shifts to a fully-backed model.
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