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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.

Curve Finance's native token CRV has recovered from a 6-month low, and many believe that the news of Huobi co-founder Jun Du buying CRV tokens has contributed to it. Jun Du bought 10 million tokens valued at $4 million from Micheal Egorov, founder of Curve.

Curve Finance founder Michael Egorov has offloaded 72 million CRV since last week's exploit, and brought down his CRV-backed debts by 21%.

Michael Egorov is under liquidation pressure following the CRV's recent price drop and Curve exploit.

"We will pursue you from all angles with the full extent of the law," said Curve, Metronome and Alchemix.

Similar imbalances happened when Terra imploded in May 2022 and after the Silicon Valley Bank crisis hit USDC issuer Circle in March.

Michael Egorov, the founder of Curve, has sold an additional 7.5 million CRV in an over-the-counter (OTC) transaction and paid a $3 million debt in USDT on Aave

Curve Finance's crvUSD stablecoin briefly depegged from the U.S. dollar, falling 0.35% before recovering.

Bitcoin's current price is around $29,900, showing a decline from its recent peak. The market sentiment is tense due to recent events surrounding Curve Finance, and traders are speculating if Bitcoin will potentially drop to $25,000.

The decentralized stablecoin is facing its first stress test since it was released in May, putting its PegKeeper algorithm to work.

By acquiring 5 million CRV tokens at the current price, this proposal seeks to send a powerful signal of solidarity within the DeFi space. Additionally, it would strategically position the Aave DAO in the ongoing “Curve wars,” while also bolstering the liquidity of Aave's decentralized multi-collateral stablecoin, GHO.

Michael Egorov, the founder of Curve Finance, has offloaded 72 million CRV tokens in a series of significant over-the-counter deals.

The contagion from the recent Curve Finance attack on the DeFi ecosystem appears to have been contained, according to JPMorgan.

It has been a few days since decentralized finance (DeFi) protocol Curve Finance suffered a major attack that saw as much as $50 million drained from its coffers and, for the first time, its native token CRV is on a bullish run. Per data from CoinMarketCap, CRV is trading at a price of $0.5888, up by as much as 7.2% over the past 24 hours at the time of writing.

The aftermath affected both user funds and created a liquidation scare that could further damage the standing of other protocols.

Blockchain data shows that Tron founder Justin Sun purchased about 5 million CRV tokens at an average price of $0.4, helping to protect Curve Finance against a possible bad debt situation stemming from falling token prices that could impact a massive loan tied to its founder. "The Hash" panel weighs in on what Sun and others are doing following the exploit Curve experienced over the weekend.

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.

Curve Finance's token (CRV) has fallen over 20% in the past three days, after the stablecoin exchange at the heart of DeFi on Ethereum fell victim to an exploit. BlockSec co-founder Yajin "Andy" Zhou breaks down the details what happened as Tron founder Justin Sun and others step in to help.

The Aave Chan Initiative, introduced within the Aave governance forum, suggested acquiring $2 million worth of curve tokens (CRV) from Michael Egorov, the founder of Curve. Spearheaded by Marc Zeller, the creator of Pandemic's blockchain consultancy firm and a key player in Aave Companies, the initiative is a delegate platform that operates closely with Aave.

Du emphasized that the existing challenges were transitory and said he believed the industry would benefit from collective support.

Huobi's Jun Du's purchase of 10 million CRV from Michael Egorov could improve Curve's loan position and brings confidence back to the protocol.

Aave Chan Initiative's Marc Zeller proposed that Aave's treasury should purchase $2 million of CRV from Curve founder Michael Egorov.

Huobi co-founder Jun Du purchased 10 million curve tokens (CRV) for $4 million from Curve founder Michael Egorov.

The hack on one of the largest decentralized exchanges earlier this week has triggered a negative pullback across the DeFi sector.