The decentralized finance (DeFi) exchange Curve Finance has revealed its plans to compensate users who were impacted by a recent hack that cost $61 million in losses.
Decentralized Financial (DeFi) Exchange Curve Finance Has Plans to Compensate Users
The decentralized finance (DeFi) exchange Curve Finance has revealed its plans to compensate users who were impacted by a recent hack that cost $61 million in losses.
Through continued investigations, almost 79% of the funds were successfully recovered. In order to ensure a fair allocation of assets among those impacted, the platform has committed to reviewing each affected user for reimbursement as part of the continuing recovery process.
Versions 0.2.15 to 0.3.0 of Curve Finance's Vyper compiler were the target of the attack, which happened on July 30. Exploiting the flaws required a high level of technical expertise and a large investment of resources. The hacker specifically targeted the CRV/ETH, alETH/ETH, msETH/ETH, and pETH/ETH pools.
Although the Curve hacker returned some funds, they did not return all by the deadline set. Therefore, Curve Finance offered a 10% bounty, worth $1.85M, to the public to dox the hacker. Out of the total amount affected, about 4,821 Ether (ETH) have been returned as of right now.
