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The original was posted on /r/cryptocurrency by /u/Ninja_Vagabond on 2023-08-11 22:18:38.
Curve Finance (CRV), a leading decentralized finance (DeFi) protocol, announced significant progress in its recovery efforts following a recent hack that resulted in losing $73.5 million across several projects within its factory pools.
The attack on July 30 exploited a critical security flaw known as a “reentrancy vulnerability,” allowing malicious actors to drain funds from Curve’s smart contracts.
Curve Finance has successfully retrieved 70% of the funds affected by the hack. While this achievement marks an important milestone, an active investigation is underway to recover the remaining balance and hold the perpetrators accountable.