Latest Updates on the Curve Attack Incident
The Curve attack incident is continuing to unfold, tracking the latest developments and the market fluctuations it has caused.
17:50 Reviewing the liquidation of Curve founder's $141 million CRV: Was it a premeditated sell-off for cashing out?
Faced with the liquidation of a $141 million CRV position, founder Michael Egorov neither actively added collateral nor took any remedial action.
15:53 The founder was ultimately liquidated, is Curve's flywheel completely bankrupt?
Is it time to short CRV?
15:27 Data: The on-chain large liquidation line for CRV has dropped to $0.245
ChainCatcher news, DefiLlama data shows that the large liquidation line on Aave v2's CRV market has dropped to $0.245. If CRV falls to $0.245, 123 million CRV (approximately $30.2 million) will be at risk of liquidation, a significant decrease from the previous large liquidation line of $0.372.According to OKX market data, the current price of CRV is 0.4735 USDT.
17:15 The Frax Finance community voted to approve the proposal to "use 1 million FRAX from the DAO treasury to purchase CRV from Curve founders."
ChainCatcher message, the Snapshot page shows that the proposal from the Frax Finance community regarding "using community treasury funds to purchase CRV" has been voted through.The proposal states that Frax Finance will use 1 million FRAX from the FRAX DAO treasury to purchase CRV from the Curve founders via OTC. The treasury will not sell these CRV tokens but will instead stake them in veCRV (through Frax's whitelisted locking contract) or cvxCRV, in order to promote Frax's development within the Curve ecosystem.
18:14 The attacker address of Wintermute holds more than half of the 3CRV tokens
ChainCatcher message, PeckShield monitoring shows that the address marked as the Wintermute attacker holds more than half of the Curve.fi DAI/USDC/USDT tokens (51.8%). It is reported that in September 2022, Wintermute suffered a $160 million attack, with hackers depositing up to $114 million into Curve.
17:34 The Aave community's proposal to "use 2 million USDT from the treasury to purchase CRV" has been voted and approved, and will be executed within 1 day
ChainCatcher message, the governance page shows that the Aave community's "aCRV OTC Trading" proposal has been voted through with a support rate of 57.81% and will be executed within 1 day.It is reported that the proposal suggests strategically using 2 million USDT from the Aave DAO treasury to purchase 5 million aCRV tokens, aiming to support the DeFi ecosystem and strategically position Aave DAO in the Curve wars, thereby benefiting GHO secondary liquidity.
17:14 The founder of Curve has sold a total of 157.4 million CRV through OTC, obtaining 62.96 million dollars
According to ChainCatcher's message, monitored by on-chain analyst Yu Jin, from yesterday to today, Curve founder Michael Egorov sold 13.75 million CRV to two institutions. Among them, 12.5 million CRV were sold to Binance Labs, and 1.25 million CRV were sold to Accumulated Finance.Since August 1, when the Curve founder began OTC sales of CRV, a total of 157.4 million CRV have been sold to 33 investors/institutions, raising funds of 62.96 million USD.
10:15 Curve Finance has initiated a proposal to restructure the stable liquidity pool Stableswap Pool, with voting ending on August 15
ChainCatcher news, according to official sources, the DeFi stablecoin trading platform Curve Finance has initiated a proposal for the next-generation restructured stable liquidity pool, Stableswap Pool, which opened community voting on August 8.It is reported that the fees for the Stableswap Pool launched by Curve Finance will be reduced by 4 basis points. Current voting information shows that the approval rate is 100%, and the voting will end on August 15.
12:48 Piedao: The Curve vulnerability theft incident has currently returned 52.3 million USD, accounting for 73%
ChainCatcher news, according to PeckShieldAlert monitoring, approximately $73.5 million worth of cryptocurrency on Ethereum was stolen in the Curve Reentrancy vulnerability. So far, about 73% (approximately $52.3 million) has been returned. The remaining value of approximately $19.7 million in cryptocurrency on Ethereum has not yet been returned by the first Curve CRV-ETH exploiters (0xb752...b324).The details of the returned funds are as follows: AlchemixFi returned in full: $22 million (including 7,258 ETH + 4,821 alETH) Jpegd Frontrunner returned 90%: $11.5 million (equivalent to 5,495.4 WETH) Metronome ($1.6 million) + CRV pool ($5.3 million) returned by c0ffeebabe.eth: $7 million Alchemix (white hat operation): $13 million. (source link)
08:05 Curve: The deadline for voluntarily returning the funds from the Curve vulnerability attack has passed, and a 10% bounty will be offered to the public
ChainCatcher message, on-chain data shows that at 16:10:23 Beijing time on August 6, Curve sent a message to the Curve attacker address stating, "The deadline for voluntarily returning the funds from the Curve vulnerability attack has ended at 16:00. We are now expanding the reward scope to the public and offering 10% of the remaining attacked funds (currently $1.85 million) to anyone who can identify the attacker and lead to a court conviction. If the attacker chooses to return the full amount, we will no longer pursue the matter. Contact us at curvenegotiation@protonmail.com."
