JPEG'd Recovers $10 Million worth ETH from Curve Hacker

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.

Timeline of Curve-dao-token, Ethereum

The co-founders of the crypto analytics platform Glassnode are of the opinion that Ethereum (ETH) is set to go higher. Jan Happel and Yann Allemann, which use the Negentropic Twitter account, tell their 55,800 followers that Ethereum is likely gearing up to break out from its multi-month downtrend against Bitcoin (ETH/BTC).

Base, the Ethereum L2 (layer 2) scaling layer backed by Coinbase, has opened bridging for selected assets from Ethereum. In a blog post, the protocol also announced that the Base mainnet deployment was slated for August 9, allowing free access to developers to launch their apps on top of it.

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 United States Securities and Exchange Commission (SEC) is witnessing a remarkable surge in applications for Ether futures exchange-traded funds (ETFs), with 11 Ether-based filings submitted in less than a week.

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.

In a surprising turn of events, the hacker known as the “Alchemix/Curve Finance Exploiter” has returned a total of 4,819.55 alteth and 6106 Ethereum (ETH) to Alchemix Finance, as reported by the journalist Colin Wu. The hacker, who had gained unauthorized access to the protocol, had earlier demanded that the Alchemix Finance team confirm the address to which they wanted the stolen funds returned.

In a significant turn of events, the infamous hacker responsible for the breach of Curve Finance, a prominent Decentralized Finance (DeFi) protocol has initiated the process of returning the stolen funds. This unexpected development marks a significant stride in the ongoing battle to enhance the security and resilience of the DeFi ecosystem.

Ethereum, the second most famous blockchain network, is raising its glass to commemorate eight transformative years in the crypto landscape. Its birthday presents an opportune moment for the crypto clan to rejoice in the achievements it has tallied since its launch on July 30, 2015.