The Looter Responsible for the $61 Million Curve Hack Has Begun Returning Assets, Raising Hopes for Recovery

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Last Updated on August 6, 2023 by Bitfinsider

According to blockchain data, the exploiter responsible for draining $61 million in assets held on the decentralised exchange Curve Finance has returned some of the stolen crypto after speaking with one of the victims on Friday.

The looter urged Alchemix, one of the victims of the robbery, to confirm the protocol’s address where he might return the assets in a message linked to an Ethereum blockchain transaction. Soon after, he moved about $10 million in ether (ETH) and alETH to Alchemix’s multisignature wallet in a series of transactions, according to blockchain data on Etherscan.

The transactions raise hopes that the majority of the stolen assets will be returned to victims in one of the year’s most dramatic crypto exploits. Over the weekend, Curve, Metronome, and Alchemix lost $61.7 million in crypto assets after an unknown hacker exploited a software fault to loot various trading pools.

The Curve exploit roiled the decentralized-finance sector, as worried investors withdrew funds as a precaution. In the aftermath, the CRV token’s price decreased by up to 31% to 50 cents.

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