Defi Attackers Withdraw $570,000 From Curve Finance, Crypto Exchange Fixedfloat Freezes 112 Ethereum – Bitcoin News

Decentralized finance (defi) protocol Curve was hacked in Ethereum, losing $570,000 after it was noticed that Curve’s front end was exploited, reports indicate. The attackers then attempted to launder the money through the cryptocurrency exchange Fixedfloat, and the exchange team managed to freeze $200,000 worth of stolen funds.

Curve Finance Exploited for $570,000 – Fixedfloat Exchange Freezes Over $200,000, Domain Name Services Blame

On August 9th, Paradigm researchers discovered another defi hack Samson tweet The front end of Curve Finance was compromised. Curve Finance confirmed the issue on Twitter, and the team was later able to restore the vulnerability found in the front end. “Problems have been identified and resolved,” Curve Say. “If you have approved any contracts on Curve within the last few hours, please rescind them immediately.”

When Curve was asked if the team could “learn more about how the nameservers were compromised?” Curve Reply: “We don’t know. Most likely, [iwantmyname.com] I was hacked myself. ” On-Chain Researcher Zachxbt Hackers managed to escape, reports say $570,000. Funds are sent to Bitcoin Lightning Network powered exchanges fixed float, The exchange noted that the team managed to freeze some of the funds.

“Our security services have frozen some funds112 [ether]. In order for our security department to sort out what happened as quickly as possible, please email us” Fixedfloat wrote. steven fergusonfounder Tcpshieldfurther verifying that the domain service iwantmyname.com may be compromised.

“At 20:26 UTC on August 9, I received an [Curve fi’s] Frontend compromised in what appears to be a nameserver hijack [iwantmyname.com],” said Ferguson. Tcpshield founder added:

It doesn’t appear to be a registrar-level hijack, but [iwantmyname.com] compromised myself.

The Curve attack is the result of a large number of defi hacks that have occurred in the past few weeks, as the Solana-based Slope wallet is violationCrema Finance lost $8.7 millionRari Capital’s Fuse Platform Hacked $80 million. also, $1.3 billion Stolen in Q1 2022, most attacks originate from defi projects this year.

After the Curve attack, the Curve team has been tweet A walkthrough of how a user can revoke a smart contract. After finding the problem and recovering, Curve Finance Say: “Updates should be propagated to [Curve] It’s everywhere now, which means it should be safe to use. “Curve Finance has $6.13 billion Total value locked (TVL) today, making it the fifth largest defi protocol by TVL scale.

tags in this story

$6.13 trillion TVL, Defi hacks in 2022, crema finance, Curve attack, Curve fi front end, Curve cracking, The Curve Team, curve.fi, Decentralized Finance, Defi hacker, Domain Services, fixed float, frozen eth, Freeze funds, Hack, iwantmyname.com, name service, steven ferguson, Tcpshield, Zachxbt

What do you think of the Curve Finance hack that happened on August 9th? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at Bitcoin.com News and a fintech reporter living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News on the disruptive protocols emerging today.




Image Source: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network Does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.



Source link