• Curve Finance has announced its intention to reimburse users affected by the recent hacking incident resulting in $62 million of losses.
• Investigations are yielding progress, with 79% of funds successfully recovered and an equitable distribution of resources being assessed for each impacted user.
• The hack was identified as exploiting vulnerabilities within the release history of Curve Finance’s Vyper compiler, and a 10% bounty was extended to the individual responsible for the hack.
Curve Finance Suffers $62M Hack
On July 30th, decentralized finance (DeFi) platform Curve Finance suffered a major security breach resulting in losses of approximately $62 million.
The attack was traced back to versions 0.2.15 to 0.3.0 of the platform’s Vyper compiler, which malicious actors were able to exploit due to their skill and resources.
In response to the hack, Curve Finance vowed to assess each impacted user for reimbursement in order to ensure an equitable distribution of resources.
A 10% bounty was offered to the individual responsible for the attack who subsequently returned 70% of stolen funds.
At present , investigations are ongoing whilst active measures are being taken to measure respective shares among affected users . p >