Fun

News Feed - 2023-08-12 05:08:34

Amaka Nwaokocha15 hours agoCurve Finance vows to reimburse users after $62M hackThe platform said it would assess each impacted user for reimbursement.3891 Total views33 Total sharesListen to article 0:00NewsJoin us on social networksDecentralized finance (DeFi) platform Curve Finance has officially stated its intention to reimburse users impacted by the recent hack resulting in $62 million of losses. 


According to an X (formerly Twitter) post from its official account, ongoing investigations are yielding progress, with approximately 79% of the funds successfully recovered. The platform also said it would assess each impacted user for reimbursement.


This assessment aims to ensure an equitable distribution of resources. The incident on July 30 involved malicious actors exploiting vulnerabilities within the release history of Curve Finance’s Vyper compiler.Quick post-hack update.

While 70% of funds affected by the hack last week are recovered, active investigation with regards to the rest is underway.

In the meantime, we are also working on measuring the respective shares of each affected user with the goal of proper distribution— Curve Finance (@CurveFinance) August 11, 2023


The individual behind the hack directed their attack at versions 0.2.15 to 0.3.0 of the Vyper compiler. Identifying the vulnerabilities demanded a significant degree of skill and substantial resources, as highlighted by experts in the field.


One contributor to Viper said the attack was likely planned for weeks before execution. Among the pools exploited were CRV/ETH, alETH/ETH, msETH/ETH and pETH/ETH. Furthermore, there is growing concern that the tri-crypto pool on Arbitrum might also have been exploited.


Related:Aave DAO opens voting on proposals to reduce CRV exposure


The attack rippled across the entire DeFi ecosystem. A comprehensive examination of the breach underscored an issue within the budding cryptocurrency sector: the absence of proper incentives to identify vulnerabilities in previous software iterations.


A 10% bounty was extended to the individual responsible for the hack, and upon acceptance, the perpetrator started to return the funds. According to Etherscan, at the time of writing, the total value of the funds returned amounted to 4,821 Ether (ETH) or $8,891,578.


Magazine:Should crypto projects ever negotiate with hackers? Probably# Blockchain# Cryptocurrencies# Hackers# Tokens# DeFiAdd reactionAdd reactionRelated NewsHow to send and receive payments on the Lightning NetworkBlackRock’s misguided effort to create ‘Crypto for Dummies’Dear crypto writers: No one wants to read your ChatGPT-generated trash

News Feed

Ezra Reguerra11 hours agoJapanese exchange plans to start digital securities trading on Dec. 25Ichigo, based in Tokyo, plans to offer over $20 million worth of digital securities backed by real estate on the Osaka Digita
Cointelegraph Research11 hours agoBitcoin price shrugs off bears, but mining stocks take a beating: ReportThe crypto mining sector is becoming increasingly competitive, with hash rate showing no sign of slowing down, and
FTX and CFTC agree to $12.7B settlement, subject to court approval
Brayden Lindrea1 hour agoFTX and CFTC agree to $12.7B settlement, subject to court approvalThe US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back F
Navigating post-halving landscape: What to expect for Bitcoin price and network security
Tristan Greene5 hours agoNavigating post-halving landscape: What to expect for Bitcoin price and network securityWith the April Bitcoin halving looming, the future is as uncertain as ever.10598 Total views3 Total sharesL
ApeCoin Faces Strong Resistance As Bears Seize Control At $1.755
Este artículo también está disponible en español. ApeCoinis facing a tough setback as bearish momentum intensifies, with the price hitting a strong resistance at $1.755.
Top Analyst Predicts Ethereum Could Ignite Bull Rally If Price Surpasses $2,330
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoiner Elected to US Senate: Cynthia Lummis Sees ‘Great Promise’ in Bitcoin
Bitcoiner Elected to US Senate: Cynthia Lummis Sees "Great Promise" in Bitcoin A bitcoin hodler has won a U.S. Senate seat. Cynthia Lummis is a bitcoin owner who
S2F Creator Plan B ‘Reconfirms’ His Confidence in Bitcoin Forecast — ‘This Bull Is Not Over and $64K Was Not the Top’
S2F Creator Plan B "Reconfirms" His Confidence in Bitcoin Forecast — "This Bull Is Not Over and $64K Was Not the Top" Last month, the popular bitcoin analyst a
Ghoulish NFTs Will Haunt the Blockchain This Halloween
In crypto, where nothing is scarier than FOMO, there’s no better time for an extremely limited release of non-fungible tokens (NFTs) than Halloween. Take Decadent founder Oli
Revolut Launches Banking Services in Spain Featuring Deposit Insurance
Revolut Launches Banking Services in Spain Featuring Deposit Insurance Revolut, a leading fintech platform and neobank, has received a special banking license to operate in Spain.
Analyst Who Correctly Predicted The Ethereum Price Crash Against Bitcoin Reveals Where It’s Headed Next
Este artículo también está disponible en español. The Ethereum price has returned above the $3,800 price level on the back of a 5% increase in the past 24 hours. Interest
Biggest Movers: ETC Biggest Gainer in Top 30 on Thursday, ZEC Also Rises
Biggest Movers: ETC Biggest Gainer in Top 30 on Thursday, ZEC Also Rises Ethereum classic was easily the biggest gainer in the top 30 on Thursday, as the global crypto market was t