Last Updated on August 10, 2022 by Bitfinsider

A screenshot of the wallet for the Curve.Finance decentralized finance (DeFi) system was posted on Twitter late Tuesday, revealing that hackers stole about $570,000 from it.

The protocol’s administrators announced through Twitter shortly after that statement that they had identified and resolved the issue. “If you have approved any contracts on Curve in the past few hours, please revoke immediately,” as requested by the admins. Additionally, the protocol urged users to use curve.exchange until curve.fi’s propagation returned to normal.

Due to the fact that many other protocols rely on Curve.Finance’s CRV token rewards emissions for funding, Curve.Finance is a crucial component of the DeFi ecosystem.

The alleged hacker modified the protocol’s domain name system (DNS) entry, redirecting users to a false clone, and authorized a fraudulent contract. But there was no breach of the program’s contract.

In response to the attack, the protocol instructed users to avoid utilizing curve.fi and curve.exchange until the protocol’s administrators were able to identify the source of the exploit.

“We are becoming aware of a potential front end issue that is approving a bad contract,” as announced on Telegram. “For now, please do not perform any approvals or swaps. We’re trying to locate the issue, but for now, for your safety, do not use curve.fi or curve.exchange.”

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