Aug 7, 2023

Whitehats hackers and attackers have returned over 73% of all funds stolen from Curve Finance after its early August exploit.

Video transcript

Yeah, I think um it's important that we sort of talk about what happened with curve. Um So I'll give a bit of context on, you know what actually went down, right? So this started on July 30th on Sunday where uh curve was exploited. Uh Curve is obviously one of the largest des in crypto. Um And it pioneered the Ve Toom model, right, where entities can sort of lock up their tokens and use their uh voting power to direct emissions to their liquidity pools. This uh obviously kickstarted the curve wars, which basically implies that whoever had the largest curve supply was able to direct the most emissions to their liquidity pool. Uh We fast forward to July 30th, which was last Sunday where almost 65 million or more uh worth of tokens were drained from some of these curve stable pools. Um Although some of these tokens were obtained by White hat hackers and Mev Boss, uh meaning that some funds were actually managed to recovered after all right, now, we have about 70% recovered, uh which is quite a big sum, right.

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