Curve Finance was hacked early this morning (31st), and the amount of funds affected has reached about 52 million US dollars. Despite this, there are still traders who used MEV (maximum extractable value) robots to get early trading when the hack occurred, and today some of the largest MEV reward blocks in Ethereum history were generated.

Curve Finance, the largest stablecoin exchange protocol, was hacked early this morning (31st). According to updated statistics released by security agency PeckShield this morning, the amount of funds affected has reached nearly 70 million US dollars.

Affected projects include: Alchemix, JPEGd, MetronomeDAO, deBridge, Ellipsis and Curve CRV-ETH. The assets that lost the most are ETH and CRV.

Curve hack triggers Ethereum’s largest MEV reward block

However, despite the rising amount of losses from the DeFi chain explosion, there are still traders who use MEV (maximum extractable value) robots to get first-hand transactions when the hack occurs and realize huge profits.

Ethereum core developer and EIP-1559 co-author eric.eth wrote that some of the largest MEV reward blocks in Ethereum history were generated today. Among them:

  • Slot 6,992,273: Received 584 ETH reward;

  • Slot 6,993,342: Received 345 ETH reward;

  • Slot 6,992,050: Received 247 ETH reward;

  • Slot 6,993,346: Received 51 ETH reward.

A total of more than 1,227 ETH of MEV rewards occurred, equivalent to approximately US$2.3 million.

How did this MEV front-running transaction happen?

In response to this, eric.eth responded:

curve hack/exploit occurred.

A bot noticed the hack in the mempool, copied the tx and ran it in front.

To do this, they pay large amounts of ETH to block producers to enable front-running.

Curve TVL plummeted 24%, CRV plummeted 20%

Affected by the hacker attack, Curve Finance's locked value (TVL) has dropped from US$3.26 billion yesterday (30) to the current US$2.481 billion, a decrease of US$785 million, and a drop of 24.03% in the past 24 hours.

The governance token $CRV even plunged nearly 20% at one point. Before press time, the price rebounded slightly and is now trading at $0.625, down 15.08% in the past 24 hours.