Curve emergency DAO terminates rewards for hack-related pools
The Curve Finance lending protocol has terminated governance token rewards for select liquidity pools affected by the July 30 Curve exploit and July 6 Multichain exploit, according to an Aug. 2 social media post from a member of the protocol’s governing body.
The ending of rewards was carried out by the Curve emergency decentralized autonomous organization (Curve E-DAO), a committee made up of select members of the Curve DAO governing body. It affected pools for alETH+ETH, msETH-ETH, pETH-ETH, crvCRVETH, Arbitrum Tricrypto and multibtc3CRV, according to the announcement. The decision can be overridden in the future by a full vote of the Curve DAO.
The change was announced by Curve E-DAO member Gabriel Shapiro.
ATTENTION, FROM A CURVE E-DAO SIGNER: The @CurveFinance emergency multisig has terminated CRV rewards (gauges) to the liquidity pools affected by recent exploits, including pools affected by the recent Vyper compiler exploit and the multiBTC pool affected by the recent…
On July 6, over $100 million worth of cryptocurrency was withdrawn from a number of bridges that were part of the Multichain protocol. The Multichain team stated that the withdrawals were “abnormal” and that users should stop using Multichain. At the time, the Curve team warned its users to “Exit multichain assets such as multiBTC (including the pool),” implying that its own multibtc3CRV liquidity pool was at risk from the Multichain incident.
On July 14, the Multichain team stated that the withdrawals had been caused by an unknown individual who had gained access to its CEO’s cloud computing account, implying that the funds had been exploited and may never be returned.
On July 30, Curve Finance itself was the victim of a reentrancy attack. Over $47
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