Curve Finance Appeals for Return of Stolen Funds, Offers Bounty

One sentence summary – Curve Finance, a decentralized finance protocol, has urged the perpetrators of a recent exploit to return the stolen funds, but they have not complied, leading to a bounty being offered for information on the attackers; the founder of Curve Finance has sold tokens to offset his debt, and the Aave community has taken measures to mitigate risk associated with the exploit, while the price of CRV has seen a slight increase but remains a concern for the DeFi community.

At a glance

  • Curve Finance has appealed to the perpetrators of the CRV/ETH exploit to return the stolen funds
  • The attackers have not returned the funds despite the passing of the deadline
  • Curve Finance has offered a bounty for identifying the attackers and providing evidence for conviction
  • Michael Egorov, the founder of Curve Finance, has sold CRV tokens to offset his debt
  • The Aave community has blocked borrowing of CRV tokens to mitigate liquidation risk

The details

Curve Finance, a decentralized finance (DeFi) protocol, has recently appealed to the perpetrators of the CRV/ETH exploit to return the stolen funds to the Curve DAO ownership address.

Despite the passing of the deadline set by Curve Finance, the attackers have not returned the funds.

In response to this, Curve Finance has offered a bounty to anyone who can identify the attackers and provide evidence that leads to a conviction in court.

Michael Egorov, the founder of Curve Finance, has taken steps to address the financial impact of the exploit.

Egorov has sold approximately 145 million CRV tokens in an effort to offset his substantial debt of $80 million.

This action demonstrates Egorov’s commitment to resolving the situation caused by the exploit.

The exploit has raised concerns within the DeFi community.

The Aave community has responded by blocking the borrowing of Curve DAO Tokens (CRV).

This measure is intended to mitigate the potential liquidation risk associated with Michael Egorov’s debt.

The decision by the Aave community reflects a proactive approach to maintaining the stability of the DeFi ecosystem.

As a result of the exploit, Egorov is now under significant liquidation pressure.

This pressure is further exacerbated by the decline in the price of CRV.

To counteract this, DeFi platforms like Aave have implemented measures to sell CRV collaterals if the token’s price reaches $0.368.

This action is designed to prevent further damage and a potential crash in the DeFi market.

Despite these challenges, there have been some positive developments.

The price of CRV has seen a modest increase of 1% over the past 24 hours, and is currently trading at $0.60.

There was also a temporary 10% surge in price when the attackers began returning the funds, although this momentum has since slowed.

The return of the stolen funds by the attackers remains a concern for Curve Finance and the wider DeFi community.

Both Curve Finance and the wider community are actively seeking a resolution and justice in this matter.

The information available provides a comprehensive overview of the current status and implications of the exploit incident.

Please note that all information presented in this article is based on the generated bullet points and has not been independently verified.

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– Curve Finance has requested that the CRV/ETH attackers return funds to the Curve DAO ownership address.
The exploiters have not returned the funds within the given deadline.
– Curve Finance has extended the bounty to anyone who can identify the exploiters and lead to a conviction in court.
The exploiters need to return the funds to the Curve DAO ownership agent wallet address.
– Curve Finance founder, Michael Egorov, has sold nearly 145 million CRV tokens to pay off his $80 million debt.
The Aave community has blocked borrowing of Curve DAO Token (CRV) to prevent the liquidation risk of Michael Egorov’s debt.
– Michael Egorov is under liquidation pressure as the CRV price fell after the hack.
– DeFi platforms like Aave will sell CRV collaterals if the price hits $0.368, which could trigger a DeFi crash.
The CRV price has increased by 1% in the past 24 hours, currently trading at $0.60.
The price jumped 10% after the attackers started returning funds, but the momentum has slowed.

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