Asking for the return of part of the sums stolen is a common practice to which crypto companies that are victims of hacks indulge. In the majority of cases, the latter call for the goodwill of the pirate. And as a reward, he receives part of the jackpot without having to be worried. If necessary, the victim companies resort toother more aggressive initiatives. Curve Finance also hopes that this same process will succeed in order to bail out its current cash flow deficit.
The hacker received an ultimatum
Curve Finance bled after a reentrancy attack happened last Sunday. Next to 60 million dollars have actually disappeared portfolios of this decentralized exchange (DEX) specializing in stablecoins. A situation that put Michael Egorov at bay.
” Dear hacker, you have received a message. »
Here is the content of this message.
” We as a group: Curve, Metronome & Alchemix would like to discuss a bounty with all parties involved in Curve’s recent exploits. We offer a bounty of 10% of stolen funds, which you can keep if you return the remaining 90%.
You won’t have no risk that we will continue the case, no risk of law enforcement issues, etc. If you decide not to participate in voluntary surrender and complete the process before August 6 at 8 a.m. UTC, we will extend the bounty to the public and offer the full 10% to the person who is able to identify you in a way that will lead to your conviction in court. We pursue you from every angle with the full rigor of the law.
Contact us at [email protected] as soon as possible, because the deadline for filing the declaration is not far away.
Please note that anyone emailing us will need to verify ownership of their address on the channel prior to any discussion. »
In other words, the hacker has until Sunday to reflect and return what does not belong to him. If the stolen sums are returned, he will receive a reward that could amount to several million dollars.
The aiETH pool hash also received a similar message.
Curve gradually rises
$60 million less in Curve Finance’s crypto wallet must really weigh in on the future of this blockchain protocol. But the boss, Michael Egorov had managed to avoid the total bankruptcy of the company.
He has in particular sold CRVs over-the-counter to institutions and icons of the crypto-sphere like Justin Sun, boss of Tron. These OTC transactions, of around $70 million in CRV, would have earned him in return some 28 million USDT. Enough to maintain the strength of its loan position on Aave, FraxLend and Inverse Finance.
Furthermore, we also cannot forget the initiative of the “white hat” hackers, or ethical hackers, who expressly hacked Curve Finance in order to be able to return their spoils to the crypto company itself.
But efforts to keep Curve’s head above water are increasing.
” A member of the DAO Aave proposes to strategically acquire $CRV with 2M USDT of the treasury of the DAO Aave.
On Messari.io, the message highlights a willingness to support the DeFi ecosystem and to involve the DAO Aave in the wars that Curve Finance is currently waging. This initiative will give it access to GHO’s secondary liquidity.
And speaking of DAO, Unchained Crypto revealed that Curve Finance’s emergency DAO voted for the end of CRV governance rewards for affected liquidity pools by last Sunday’s cryptocurrency hack. aIETH, pETH, msETH, crvCRVETH, Arbitrum Tricrypto and multi-BTC make up the list mentioned by the E-DAO.
Without it, investors will always continue to participate. And at the same time, they will be exposed to new exploits on Vyper.
CRV no longer trades at $0.4
Egorov wouldn’t have traded his CRVs had it not been for the emergency. Sell at a price of 0.4 dollars a token that was worth 0.7 dollarsthis is the worst situation for a leader worthy of the name.
But U°Today revealed that the CRV has regained the hair of the beast. The crypto media clarified that this Curve Finance token rose 7.2% in 24 hours to trade at $0.58 per coin.
At press time, CRV was valued at $0.57.
To fully recover from this fall, valued at 20% loss, the CRV team must move heaven and earth. Hopefully the hacker will revise their positions and not act like the one who exploited EraLend. The latter has indeed chosen to keep all of the stolen money.
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