Technology

Defi Attacker Siphons $570,000 From Curve Finance, Crypto Exchange Fixedfloat Freezes 112 Ethereum

Reports indicate that the decentralized finance (defi) protocol Curve was hacked for $570,000 in ethereum after people noticed that Curve’s front end was exploited. The attackers then tried to launder the funds via the crypto exchange Fixedfloat, and the trading platform’s team managed to freeze $200K worth of the stolen funds. Another defi hack was discovered on August 9, when the Paradigm researcher Samczsun tweeted that Curve Finance’s frontend was compromised. Curve Finance confirmed the problem on Twitter and later the team was able to revert the exploit found on the frontend. “The issue has been found and reverted,” Curve said. “If you have approved any contracts on Curve in the past few hours, please revoke immediately.” When Curve was asked if the team could “go into detail about how the name servers were compromised?” Curve replied: “That we don’t know. Most likely, [iwantmyname.com] themselves got hacked.” The on-chain researcher Zachxbt reported that the hacker managed to get away with $570K. The funds were sent to the Bitcoin Lightning Network-powered exchange Fixedfloat, and the exchange noted that the team managed to freeze some of the funds.

Read more : Defi Attacker Siphons $570,000 From Curve Finance, Crypto Exchange Fixedfloat Freezes 112 Ethereum.

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