DeFi Platform Curve Offering $1,850,000 Bounty for Identity of Hacker

Curve (CRV) is putting up a bounty to smoke out the hacker who drained the decentralized finance (DeFi) platform of tens of millions of dollars in crypto assets over a week ago. In a note posted on the Ethereum (ETH) blockchain explorer Etherscan, Curve says that it is now offering a $1.

Timeline of Curve-dao-token

Curve DAO (CRV) encountered notable obstacles in reestablishing its market equilibrium subsequent to a recent breach in its network security. After a network intrusion that jeopardized a portion of Curve DAO's (CRV) smart contracts and caused a monetary setback of $50 million, the value plummeted drastically.

Curve Finance, a popular DeFi project, is taking measures to identify the exploiter responsible for draining over $61 million from its pools on July 30. Although the hacker returned some stolen funds to projects Alchemix and JPEGd after being offered a 10% bug bounty, Curve Finance is now offering a $1.

Auditors, security experts, and white hat hackers are banding together after Curve's $73.5 million hack to provide emergency assistance. The working solution spearheaded by Paradigm's head of security Sam (@samczsun) is a telegram bot called SEAL 911.

CRV's price rose by nearly 10% in the last 24 hours after news that the exploiter of Curve Finance had returned some of the stolen funds. However, the altcoin's outlook remains bleak.

For the second consecutive day, Curve DAO (CRV) is on a bullish rampage in what appears as a push from the growing positive sentiment that its biggest woes might soon be over. The CRV token is changing hands at a price of $0.6275, up by 10.2% over the past 24 hours.

On July 30, JPEG'd, which offers a DeFi lending protocol that lets users borrow against their collateralized NFTs (non-fungible tokens), was hacked, losing $11.6 million in cryptocurrencies.

Curve Finance founder Michael Egorov sells 8 million CRV to 5 investors again through over-the-counter (OTC) to pay off his $80 million debt. Meanwhile, Curve Finance pools hackers agreed and started to return funds in exchange for a 10% bounty announced by Curve and other DeFi protocols to prevent a major collapse of DeFi.

Curve Finance's native token witnessed some recovery after the exploit that hit the network recently. However, the slight recovery was accompanied by token metrics indicating a loss of investor confidence.

JPEG'd verifies the retrieval of $10 million in Ether following the Curve Finance breach, as the hacker commences a surprising return of stolen assets across various DeFi platforms.

The attacker who targeted Curve Finance, a decentralized finance (DeFi) protocol, has begun returning some of the stolen funds. The attacker sent 4,821 Ethereum (ETH), worth approximately $9 million, in a series of transactions to Alchemix Finance, one of the victims.