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<p>It has been a few days since decentralized finance (DeFi) protocol Curve Finance suffered a major attack that saw as much as $50 million drained from its coffers and, for the first time, its native token CRV is on a bullish run. <a href="https://coinmarketcap.com/currencies/curve-dao-token/" rel="noopener noreferrer nofollow">Per</a> data from CoinMarketCap, CRV is trading at a price of $0.5888, up by as much as 7.2% over the past 24 hours at the time of writing.</p> 
<h2 id="curve-remediation-efforts">Curve remediation efforts</h2> 
<p>The current uptrend of Curve DAO has not negated the week-to-date (WTD) losses, which are pegged at more than 20%. The hack of Curve DAO is one of the <a href="https://u.today/multichain-hack-fantom-foundation-reveals-next-steps" rel="noopener noreferrer nofollow">biggest DeFi exploits</a> in recent times, but the current growth appears to be suggesting that the protocol might finally be out of the woods.</p> 
<p>Curve founder Michael Egorov has been on the front page all week long with unfettered efforts to raise funds in a bid to help <a href="https://u.today/multichain-hack-fantom-foundation-reveals-next-steps" rel="noopener noreferrer nofollow">restore</a> the liquidity that was drained from the platform. The last transaction by Egorov,&nbsp;<a href="https://twitter.com/lookonchain/status/1687115628006772737" rel="noopener noreferrer nofollow">according</a> to crypto analytics service provider Lookonchain, is the sale of a total of 72 million CRV tokens to 15 institutions or investors through OTC at a price of $0.4.</p> 
<p>For these sales, Egorov received the sum of $28.8 million to repay some of the debts he took on since the Curve protocol was exploited. At this time, he currently has 374.18 million CRV (worth a total of $220.4 million) in collateral and a total of $79 million in debt on five platforms.</p> 
<h2 id="where-doubt-sets-in">Where doubt sets in</h2> 
<p>There is no doubt that the Curve founder has enough liquidity to offset his loans in a bid to restore normalcy to the platform. Some critics have faulted the fact that just one man has access to up to half of the total circulating supply of Curve.</p> 
<p>The realization of what might befall the protocol based on this concentration risk is fueling concerns that CRV is technically not out of the woods.</p>

Curve DAO (CRV) up 7%, Is Curve Out of the Woods?

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