On Sunday, an exploit in Curve Finance, a decentralized finance (DeFi) protocol for trading stablecoins and other tokens, resulted in losses of around $52 million-according to blockchain security firm PeckShield-spread across multiple affected DeFi Services. However, cyptocurrency analysts say that the total theft could be much higher. Tokens like BNB dubbed from Ellipsis suffered from the exploit as well as Alchemix’s alETH-ETH which dropped roughly $13.6 million in addition to JPEG’d pETH-ETH loss of $11.4 million.
Due to a fault in the code of particular version of the Vyper programing language, which omits Re-entrancy Guard (a smart contract measure aimed to counterfract), hackers outsmarted an ambitious “whitehat rescue” mission carried out by widely regarded dataileders from the ecosystem. Notably, the activities of warned hackers regarding the scheme are linked to funds transffered from cryptocurrency emporimet Yet, what put the Crypto universe on alert were [fears linked to the Michael`s Egorov positions in Aave, the well-known liquidity protocol][37]. Undeed, a potential value‑dip below $0.42 of Curve DAO’s native token CRV, could trigger a breaking cycle of liquidations of $100 million-which was efecepadetly reverted by coming backto debt system and began to pay debtdown.
