A Hack of DeFi Protocol Curve.Finance Results In The Loss Of $570,000

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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.

Source: Twitter

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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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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