Aave

TRON

Read

<div class="cryptonews"> 
 <p class="is-style-lead">Following a recent exploit on the decentralized exchange, Curve Finance founder Michael Egorov managed to find an answer to his loan dilemma.</p> 
 <p>Thanks to support from a group of backers, including Justin Sun, the principal value of Egorov’s loan on Aave (AAVE) decreased from $63.3 million to $54.1 million.</p> 
 <h2 class="wp-block-heading" id="providing-support-to-the-fallen">Providing support to the fallen&nbsp;</h2> 
 <p>On July 30, Curve Finance faced a vulnerability linked to the Vyper programming language, resulting in an exploit that led hackers to seize approximately $52 million in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets. The attack included 7.19 million CRV tokens valued at $4.52 million, causing a sharp decline in the CRV price to two-month lows of $0.59, increasing the risk of liquidation for Michael Egorov’s loans.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an @stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentralized finance!</p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 1, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p>The plummeting CRV price posed a significant threat to Egorov’s collateralized loans, which amounted to over $100 million against 460M CRV tokens (or 47% of the total supply), with potential liquidation if the price hit $0.372. However, notable figures from the defi space, such as Justin Sun, CEO of Tron Foundation, have stepped in, even announcing a partnership between TRON and CRV on stUSDT.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Curve Finance exploit triggers massive MEV rewards 
 </div> 
 <p>However, Justin Sun is not the only <a rel="noopener noreferrer nofollow" title="investor" href="https://thebittimes.com/tag/investor.html">investor</a> stepping in. Blockchain data shows that DCF God, a prominent defi user, and Jeffrey Huang, aka Machi Big Brother, have also come forward to assist Egorov by purchasing CRV tokens from him.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">The founder of #Curvefi sold 5M $CRV to Justin Sun at an average price of $0.4 via OTC.https://t.co/WM1nW8JKwU pic.twitter.com/2smWxRbqHp</p>— Lookonchain (@lookonchain) August 1, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto traders considering Tradecurve, interest in BNB and XRP declining 
 </div> 
 <p></p> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div>

Justin Sun, other crypto investors buy CRV token in attempt to help Curve Finance

目錄

TheBitTimes

在 2023年8月1日發表的其他文章

Hoskinson Takes a Swipe at Ethereum While Hailing Cardano’s Innovations

Peter Brandt: Bitcoin halving and ETF are much ado about nothing

Hong Kong's Largest Bank To Support Crypto, But There's A Catch

Binance Launches in Japan Amid Country’s Web3 Drive

Minnesota Embraces Cryptocurrency Donations for Political Campaigns

Nomura’s Crypto Arm Approved for Dubai License

訂閱免費電子報，每天收取加密貨幣最新動態！