Crypto Curve (CRV): End of the ultimatum, the hacker quips the community

Last Friday, Curve set a deadline to the DeFi hacker for return all stolen money : Sunday, August 6 at 8 a.m. UTC. Once this deadline has passed, the team will take drastic measures to return it to the competent authorities. According to the latest news, the hacker has returned part of the jackpot. And at the same time, he dared mocking the crypto community saying that he is ” more intelligent to escape possible hunts.

Curve Finance launches a manhunt

THE deal established with the pirate went like this: either he returns 90% of all stolen money and allows himself 10% in rewards, or he does nothing and Curve will award his due to anyone who can identify him.

Curve chose to attack the hacker

In the photo attached to this email, we can read this:

There deadline for the voluntary return of funds as part of the Curve exploit was exceeded at 8 a.m. UTC. We are now extending public premium and offer a reward valued at 10% of remaining leveraged funds (currently US$1.85 million) to the person who will be able to identify the hacker in a way that will lead to a conviction in the courts.

If the operator chooses to return the funds in full, we do not pursue the case.

Contact us at [email protected]. »

In other words, Curve Finance will reward $1.8 million to whoever facilitates the arrest of the hacker.

The Curve hacker makes a game… with irony

However, yesterday, several crypto media revealed the return of part of the sums stolen from the Curve protocol on Sunday July 30.


Return of funds from Alchemix

All funds stolen by the Curve finance hacker have been returned to the Alchemix lending platform. »

This Cointelegraph article highlights the return of the 13.6 million dollars belonging to Alchemix alETH-ETH pool. A two-step operation.

The team did not fail to jubilate on Twitter:

We are extremely happy to report that all funds stolen by Alchemix pool hacker @CurveFinance have been returned. »


JPEG’d, again ready to serve its investors?

JPEG’d confirmed the return of 5,495 ETH, worth $10 million from Curve’s chacker. As part of a white-hat rescue, the hacker received a bounty of 610.6 ETH. »

Cointelegraph also clarified that the funds were returned in the amount of approximately $10 million at the DAO JPEG’d multisig wallet address.

What about other pools?

But these combined sums do not represent not even half of the funds siphoned off at Curve Finance and the DeFi protocols orbiting around it. Cryptos belonging to the pools of Metronome (msETH/ETH), valued at $3.4 million, and Curve DAO, valued at $22.6 million, have yet to be returned.

Confident, the hacker taunted the crypto community throwing :

I’ve had some ridiculous cases, so I want to make it clear that I’m reimbursing you not because you can find me, but because I don’t want to ruin your projectmaybe that’s a lot of money for a lot of people, but for me, I’m smarter than all of you. »

When the intelligence serves the ego, it could only lead to this kind ofself-proclaimed.

What future for DeFi?

After so many DeFi protocol attacks, which cost around $300 million, just for the month of July 2023Daniel Kuhn (Consensus Magazine) is pronounced on the future of decentralized finance.

First, he referred to ongoing discussions among DeFi project developers. They relate, among other things, to changes to be made to the AMM liquidity model which prevails at the moment.

And we will have to accelerate given the recent reactions of the DeFi community. In effect, many investors have started withdrawing funds on other platforms like Ava.

The Defiant reported that this caused borrowing costs to rise in this financial sub-sector.

Fortunately, Coffeebabe.eth, Chainlink and Uniswap are currently focusing on increasingly secure transaction mechanisms. Is this enough to stop DeFi protocol hacks?

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