Decentralized finance (DeFi) protocol Curve Finance ( CRV ) is compensating users who lost funds as a result of a security breach earlier this year. In late July, attackers used a Vyper 0.2.15 coding vulnerability to exploit Curve’s smart contracts, resulting in estimated losses of $70 million. Notably, the breach caused Curve’s total value locked (TVL) to drop from $3.25 billion to $1.67 billion at the time.
Token holders have voted to allocate approximately $49.2 million in crypto assets to victims of the hack. This includes $7.2 million worth of ETH recovered by whitehats, as well as $42 million worth of CRV to compensate for unrecovered portions.
To ensure affected Portfolio Liquidity Providers (LPs) are made whole, the Curve team has been working with each affected protocol team “for months in the aftermath of the hack” to achieve a satisfactory resolution. And, in a post on social media platform X, Curve noted that token holders will distribute “other whitehat-recovered funds” beforehand.
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