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.”
🚨🚨🚨@CurveFinance Frontend is broken, don’t use it until further notice!
— samczsun (@samczsun) August 9, 2022
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.
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.
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.