Representatives of the cryptocurrency community heatedly discussed the hacking of the Curve Finance protocol. Twitter users noted that large centralized exchanges are now considering stopping trading in this digital token. For example, Huobi representatives said they are closely monitoring the situation. The press service of the leading trading platform in South Korea announced the suspension of work with virtual assets.
“Today, certain vulnerabilities were discovered in some stablecoin pools associated with CRV. As a result, the cryptocurrency has become a victim of high volatility. We advise caution when considering any investment related to the Curve DAO Token,” the announcement reads. “To ensure the security of digital asset transactions, we have temporarily suspended deposits and withdrawals.”
According to data that began arriving tonight, the Curve Finance protocol suffered losses of more than $100 million. This was the result of a “re-entry” error in the Vyper language, which affected several stablecoin pools from which cybercriminals withdrew all funds.
Security researchers from various companies have noted that other projects using Vyper may also have a similar vulnerability. Curve Finance manages 232 different bullets. However, according to the developers, only pools using Vyper versions 0.2.15, 0.2.16 and 0.3.0 are at risk of re-attack.
According to data as of 11:20 Moscow time on July 31, 2023, Curve DAO Token (CRV) fell in price by 13.1% over the past 24 hours. The value of the virtual asset was fixed at $0.63. Market capitalization was $566.22 million. Daily transaction volumes soared 23 times and were fixed at $309.35 million.$CRV
