that risked $100 million worth of digital assets. In a knee-jerk reaction, CRV's dollar-denominated price tanked over 15%, threatening and threatened the liquidation of a significant borrowed position on Aave and raising the risk of market-wide contagion.
However, CRV's price denominated in Korean won rose sharply. At press time, Bithumb's CRV/KRW pair changed hands at KRW 5,565 , up more than 500% for the day, according to charting platform TradingView.Per Bithumb's local rival Upbit, some of Curve's stablecoin pools were affected by the reentrancy attack, which is responsible for the volatility in CRV. Upbit suspended withdrawals and deposits of CRV to ensure the safety of digital assets transactions.
While the exploit is bad optics for Curve, some prominent industry players remain confident of CRV's long-term prospects. "In the coming RWA wave, $crv is one of the most important infrastructures. I have BTFD. NFA," Jihan Wu, co-founder of Bitman and Matrixport,
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Curve Finance factory pools targeted due to reentrancy vulnerabilityFactory pools on Curve Finance faced a reentrancy vulnerability, a security flaw allowing potential funds drain from interrupted contract calls.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Curve Finance pools exploited in over $24M due to reentrancy vulnerabilitySeveral stable pools on Curve Finance using Vyper were exploited on July 30, with losses reaching $24 million at the time of writing. Several stable pools on Curve Finance were exploited on July 30, with losses reaching $24 million. According to Vyper, its 0.2.15, 0.2.16, and 0.3.0 versions are vulnerable to malfunctioning reentrancy locks, leaving projects relying on these versions exposed to potential risks.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Curve Finance Exploit Puts $100M+ Worth of Crypto at Risk; CRV Token TumblesMore than $100M-worth of cryptocurrency could be at risk due to a bug impacting Curve, a stablecoin exchange at the center of Ethereum’s DeFi ecosystem.
Source: CoinDesk - 🏆 291. / 63 Read more »
Crypto Futures Show Bias for Uniswap's UNI Token After Curve Finance ExploitUNI perpetual futures trade at 20% premium as traders expect Uniswap to gain even more market share after the CRV exploit, one research head said.
Source: CoinDesk - 🏆 291. / 63 Read more »
Ethereum logs $1M MEV block reward amid Curve Finance exploitThe Curve Finance exploit has led to 'some of the largest MEV reward blocks in Ethereum’s history,' according to Ethereum core developer econoar. econoar “A bot notices an incoming hack in the mempool, reproduces the tx [transaction] and front runs it”, he explained before adding, “To do so they pay the block producer a lot of ETH to be front of the line.”
Source: Cointelegraph - 🏆 562. / 51 Read more »
Upbit suspends CRV deposits and withdrawals amid Curve Finance exploitSouth Korean crypto exchange Upbit has suspended deposits and withdrawals for Curve Finance's token, CRV.
Source: TheBlock__ - 🏆 464. / 53 Read more »