Curve Finance Announces Reimbursement After $62M Breach

Curve Finance, a decentralized finance (DeFi) platform, has announced its intention to reimburse users affected by the recent breach that resulted in $62 million in losses.

According to a post on the official X (formerly Twitter) account, ongoing investigations are yielding positive results, with approximately 79% of the funds recovered.

The platform also stated that it would reimburse each affected user. This evaluation seeks to guarantee a fair distribution of resources.

The July 30 incident involved malicious actors exploiting vulnerabilities within the Vyper compiler’s release history. The individual responsible for the breach targeted Vyper compiler versions 0.2.15 to 0.3.0.

According to experts in the field, identifying the vulnerabilities required a high level of expertise and significant resources.

According to one contributor to Viper, the assault was likely planned weeks before its execution. The pools CRV/ETH, alETH/ETH, msETH/ETH, and pETH/ETH were exploited.

In addition, growing concern exists that the tri-crypto pool on Arbitrum may have also been exploited. The attack spread throughout the entirety of the DeFi ecosystem.

A thorough investigation of the breach revealed a problem within the nascent cryptocurrency industry the absence of appropriate incentives to identify vulnerabilities in earlier software versions.

The individual responsible for the breach was offered a 10% reward, and upon accepting, they began to return the stolen funds.

At the time of writing, Etherscan reported that the total value of returned funds was 4,821 ethereum, or $8,891,578.