Curve Finance has recovered 70% of hacked funds

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By BitcoinWiki News

Key Takeaways:

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  • Curve Finance has recovered 70% of funds worth about $50 million lost in a recent hacking incident on its platform.
  • The remaining funds are still under investigation.
  • Recovered funds were either returned by hackers or saved with the help of ethical operators of MEV bots.
  • Curve is working on distributing the respective shares of each affected user.
  • Curve announced a $1.85 million bounty for identifying the attackers with the remaining funds.
  • The hack resulted in a loss of $73.5 million across various projects, including BTC-related ones like JPEG’d, Metronome, and Alchemix.
  • The hack exploited a critical security flaw in Curve Finance’s smart contract logic.

Curve Finance has announced that it has recovered 70% of the funds lost in a recent hacking incident, which amounts to approximately $50 million. The remaining funds are currently being investigated. The recovered funds were either returned by hackers or aided by ethical operators of MEV bots. Curve is also working on determining the shares of each affected user to distribute the funds properly. In addition, Curve has offered a $1.85 million bounty for anyone who can identify the attackers and recover the remaining funds. The hack occurred on July 30 and resulted in a loss of $73.5 million across multiple projects within Curve’s factory pools. The attack exploited a security flaw in Curve’s smart contract logic.

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