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Curve Finance’s [CRV] condition after a $450,000 exploit recovery
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Curve Finance [CRV], the on-chain liquidity exchange, was attacked in what was termed a “DNS cache poisoning” on 9 August. This exploit capitulated CRV as the price plunged from $1.48 on 8 August to $1.25 on the event day.
Surprisingly, the coin picked up and increased to $1.42 on 11 August. On the same day, it was announced that Curve Finance had recovered over 80% of the stolen funds.
Despite the retrieval, CRV had failed to lift its price substantially, recording a 3.99% decline from its 24-hour price. So how come CRV recovered the funds?
Binance CEO Changpeng Zhao (CZ) announced via Twitter that the hacker wanted to store the funds on its exchange.
<p lang=«en» dir=«ltr» xml:lang=«en»>Binance froze/recovered $450k of the Curve stolen funds, representing 83%+ of the hack. We are working with LE to return the funds to the users. The hacker kept on sending the funds to Binance in different ways, thinking we can't catch it. Read more on ambcrypto.comAbout this in other media
Curve Finance totals record losses- Assessing potential of its growth ambcrypto.com /2 years ago
Curve [CRV] investors neck-deep in confusion should examine this data because… ambcrypto.com /2 years ago
Uniswap regains stable USD domination from Curve- Here’s how ambcrypto.com /2 years ago
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