Huobi’s Jun Du acquires 10 million CRV tokens to support Curve
Du said the existing challenges were transitory and that he believes the industry would benefit from collective support.
Du said the existing challenges were transitory and that he believes the industry would benefit from collective support.
The Curve emergency DAO removed CRV rewards for alETH, msETH, pETH, crvCRVETH, Arbitrum Tricrypto and multiBTC pools.
Michael Egorov is attempting to pay off his mountain of DeFi debts by selling CRV at a discount.
A Curve Finance hack sparked a sharp sell-off, and while DeFi traders stepped in to support CRV, the possibility of a contagion-level event remains.
Curve Finance founder Michael Egorov has a total of $100 million in debt backed by over 400 million CRV tokens.
A vulnerability in the Vyper programming language widely used by DeFi protocols like Curve Finance led to exploit of multiple Curve liquidity pools on Sunday.
Twitter accounts impersonating Curve Finance have also started to promote a fake refund scheme, further targeting victims of the hack.
The highest recently generated block reward was 584 ETH, created by a MEV bot front-running transactions during the DeFi chaos.
Several stable pools on Curve Finance using Vyper were exploited on July 30.
According to initial analysis by Peckshield, the root cause for Conic Finance’s hack was the new CurveLPOracleV2 contract.