cryptobriefing.com
DeFi protocol Curve is currently being exploited through its front end. Over $500,000 has already been taken by the attacker.
Frontend Exploited
Curve Finance is being exploited.
According to Paradigm researcher samczsun, Curve’s front end is currently compromised. The researcher warned Curve users not to use the protocol until further notice.
Curve later appeared to confirm the ongoing exploit on Twitter, writing in reply to samczsun, “Don’t use the frontend yet. Investigating!”
On-chain data show that the malicious contract associated with the exploit appears to have siphoned over $573,000 in USDC and DAI from victims. The funds, already transferred to the attacker’s wallet and swapped for ETH tokens, are now being sent to multiple other addresses in batches of 45 ETH.
Curve Finance is a decentralized finance (DeFi) protocol that provides “extremely efficient” stablecoin trading services with low slippage and fees. It is considered a pillar of the DeFi ecosystem, with over $6 billion in total value locked.
This is a developing story.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.