Keep up with what's happening in the crypto world in real-time.
All Filters (1)
In the fast-paced and ever-evolving world of cryptocurrencies, Curve Finance has emerged as a prominent player, and its founder, Michael Egorov, has recently made headlines with a series of token sales. With 106 million Curve DAO (CRV) tokens sold for a significant $42 million, market participants and analysts are paying close attention to the implications of these moves.
Most DeFi tokens traded in the red on weekly charts due to the chaos caused by the Curve Finance exploit.
Curve Finance's native token CRV has declined roughly 20% in the past week. This comes as Kaiko releases new research since the DeFi exploit that put more than $100 million worth of crypto at risk.
In a significant turn of events, the infamous hacker responsible for the breach of Curve Finance, a prominent Decentralized Finance (DeFi) protocol has initiated the process of returning the stolen funds. This unexpected development marks a significant stride in the ongoing battle to enhance the security and resilience of the DeFi ecosystem.
The individual behind the $61 million asset drain on Curve Finance, a decentralized exchange, has taken steps to return some of the stolen cryptocurrency.
When Michael Egorov, founder of Curve Finance, found himself faced with a plummeting value of Curve (CRV) tokens and enormous debt, he looked towards a group of unexpected buyers to rescue his sinking DeFi loans. On the brink of financial disaster, Egorov sold a considerable amount of 50 million CRV tokens at the discounted price of $0.40 per token, a move to relieve his escalating debts.
Across three batches, the Curve Finance exploiter returned a total of 4,820 alETH worth $8.5 million back to the protocol.
A frontrunning miner extractable value (MEV) bot that had drained approximately $11 million worth Ether from the Curve protocol returned nearly all of it.
The Curve Finance team confirmed contact with the Alchemix alETH pool exploiter via on-chain messages. Curve, Metronome, and Alchemix previously asked the exploiters to return 90% of the drained funds for a 10% bounty in return.
The exploited protocols offered a 10% bounty Thursday for returning the rest of the assets until the end f this week.
Crypto news: We bring you a roundup of what's been happening in crypto this week. The US Securities and Exchange Commission (SEC) sued PulseChain founder Richard Heart in a lawsuit the industry had long expected was coming.
Michael Egorov, the founder of Curve (CRV), sold another 34 million CRV ($19.72M, at press time) on the night of Thursday, August 3, as the token prices dropped 20% in the last seven days.
In total, Michael Egorov has parted with 106 million CRV tokens, bringing in a sum of $42 million.
The market value of USDT on the exchanges remained at $1 overall, to the extent that on its primary exchange, Bitfinex, it never fell below $1 even for a moment.
The on-chain message stated that the DeFi teams intend to pursue the Curve Finance hacker "from all angles with the full extent of the law."
Given the mechanism of the Aave V2, the recent CRV concentration has impacted the protocol's revenue.
Curve Finance and other DeFi platforms are coordinating to retrieve stolen funds after a recent hack. Curve Finance, Metronome, and Alchemix have issued an open call to the hackers, proposing a possible bounty from the loot.
CurveFi founder's massive token offloading raises concerns about platform's future and reputation.
Curve Finance and two other DeFi platforms offered a bounty on Aug. 3 in exchange for the return of funds stolen in various recent attacks.
Decentralized Finance platforms Curve Finance, Alchemix, and Metronome have announced a joint initiative to recover the stolen funds in the wake of the recent exploits that hit Curve's pools. The exploit resulted in a loss of around $70 million worth of crypto assets, meaning the bounty offered is around $7 million.
A renowned cryptocurrency analyst has recently revealed he believes that the price of the flagship cryptocurrency Bitcoin ($BTC) will see a significant surge in the near future, while also suggesting Ethereum-based Curve ($CRV) could also skyrocket.
CRV, the governance token of Curve, a decentralized exchange for stablecoins and a key player in the decentralized finance (DeFi) landscape, has impressively recovered, adding 22% after sinking to its August 2023 lows this week. When writing on August 3, CRV is trading at $0.59, rising double digits after dropping to $0.48 on August 1 following a damaging hack that saw liquidity providers in several pools lose funds.
Curve Finance (CRV) has issued a statement on Etherscan, addressing the hackers responsible for the recent exploit that resulted in the loss of over $60 million from the protocol. In the statement, Curve, Metronome & Alchemix have invited the hackers to discuss a potential bounty, offering a 10% reward for any stolen funds, which they can keep if they return the remaining 90%.
A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
