Bitcoin Dips on Curve FUD
Bitcoin has dipped a bit on the Curve exploit that has led to some FUD.
Keep up with what's happening in the crypto world in real-time.
Bitcoin has dipped a bit on the Curve exploit that has led to some FUD.
A wallet linked to Justin Sun acquired 5 million CRV tokens for $2 million from Curve's Michael Egorov in a likely OTC deal.
Curve Finance founder Michael Egorov has a total of $100 million in debt backed by over 400 million CRV tokens.
Egorov has created a new liquidity pool on Curve for FraxLend's CRV/FRAX market, called crvUSD/fFRAX. Analysts said it is an attempt to incentivise liquidity to FraxLend's pool from where Erogov has taken loan of 15.8 million FRAX.
Curve's native token CRV experienced a sharp price decline due to a reentrancy attack, prompting founder Michael Egorov to take measures to stabilize his personal DeFi position.
On-chain data reveals a series of intriguing transactions by Curve founder following a 2 million USDT transfer.
Curve DAO token lost 17% of its value under a massive attack. A series of exploits targeting DeFi projects in Curve Finance, leaving the platform in a vulnerable position with $100 million worth of cryptocurrency at risk.
Curve Finance suffered a significant exploit over the weekend, with attackers managing to siphon off around $70 million worth of assets from users. Curve founder Michael Egorov has a loan of around $70 million in USDT on Aave v2, using CRV as collateral.
Following the exploit on certain Curve Finance liquidity pools on Sunday, Curve founder Michael Egorov's CRV-collateralized loans are potentially at risk of being liquidated.
The Ethereum DeFi space is currently experiencing a rough few hours. All major DeFi coins are posting deep red numbers in the last 24 hours: Compound (-18%), Aave (-10%), Curve (-10%), Frax (-6%), and Synthetix (-6%).
Upbit, the largest cryptocurrency exchange in South Korea, has temporarily suspended CRV withdrawals and deposits after Curve fell victim to a significant exploit. Other exchanges have been keeping track of the situation but have not initiated any action as of now.
Concern is mounting over a large loan that the Curve Finance founder took out with his stash of the protocol's native token. As the price of CRV continues to fall, a large liquidation looms.
Traders pile into short positions in the perpetual futures market as potential liquidation of founder's crypto borrowing may destabilise the broader decentralized finance ecosystem.
Bitcoin briefly broke above $29,500 in the last 24-hours as investors await the upcoming U.S. jobs report on Friday. The largest cryptocurrency by market cap appears to be unfazed by recent moves from central banks around the globe and even material technical events like the Curve Finance exploit.
The MEV bot's white-hat operator returned the funds to Curve Finance, which may have otherwise been lost to malicious hackers.
Shortly before Asia TradFi markets opened on Tuesday, bitcoin was slogging just above $29,200, roughly flat over the past 24 hours but still stuck in the same narrow range it's been occupying for a week.
Curve CEO Michael Egorov pledged 34% of CRV's total market cap to back loans across DeFi protocols. A forced liquidation would result in selling at a time when prices are already falling.
Decentralized exchange Curve Finance saw exploits of over $70 million on Sunday, caused by a Vyper reentrancy lock malfunction.
Curve's TVL tanked after the latest exploits. And now, its stay as a top DEX or token could be jeopardized.
Curve Finance, a popular decentralized exchange (DEX), recently faced a significant security breach that affected multiple Ethereum pools and an Arbitrum-based liquidity pool. The incident occurred over the weekend, leading to the theft of millions of dollars.
Ava Labs president John Wu joins "First Mover" to discuss Avalanche Vista, a $50M initiative for purchasing tokenized assets minted on the Avalanche blockchain, along with the opportunities and challenges of asset tokenization. Plus, his reactions to the Curve Finance exploit, Ripple's partial win against the SEC and outlook for the metaverse.
MakerDAO and Aave founders try and find a silver lining to the multimillion dollar Curve exploit over the weekend.
On July 30, over 6,000 ETH ($11M worth) in so-called Maximal Extractable Value rewards were paid out to Ethereum validators, the most ever for a single day.
Bitcoin's price opened the week trading flat, unmoved by the weekend's significant Curve Finance DeFi exploit.