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JUST IN: Major Hack Incident in DeFi World! CRV Price Temporarily Drops to $0.1!

source-logo  en.bitcoinsistemi.com 30 July 2023 20:15, UTC

According to the last minute development, a hacker who attacked the CRV/ETH pool has stolen 7 million CRVs and 14 million dollars of WETH.

Curve Finance had this to say in its statement shortly before the latest hack:

“A number of stablepools (alETH/msETH/pETH) using Vyper 0.2.15 have been hacked as a result of a malfunctioning reentrancy lock. We are assessing the situation and will keep the community informed as developments occur.

Other pools are safe.”

According to the information obtained, a few minutes before the white hat hackers intervened, the hackers emptied the liquidity in the pool.

However, one of the hacked platforms, Alchemix, said:

“A hacker drained the alETH/ETH curve pool during the process of queuing the transaction to extract the remaining liquidity.

The net result at the moment is a partial loss of support of around 5,000 ETH supporting alETH.”

After the development, CRV price instantly saw $0.10 and at the time of this writing, it is trading at $0.636, losing 13% in the last 24 hours.

Chart showing the sudden drop in CRV price.

*Not investment advice.

en.bitcoinsistemi.com