Curve Finance Hacked With $573,000 Stolen So Far

According to an image of the protocol’s wallet on Twitter late Tuesday, thieves stole about $570,000 from the decentralized finance (DeFi) system Curve Finance. Following that declaration, the protocol’s administrators announced through Telegram that they had identified and resolved the issue. They requested the users if they had approved any contracts on Curve recently, to revoke them immediately. Additionally, the protocol suggested that users use curve exchange until curve fi propagation returns to normal. Don't use https://t.co/vOeMYOTq0l site – nameserver is compromised. Investigation is ongoing: likely the NS itself has a problem — Curve Finance (@CurveFinance) August 9, 2022 Curve Finance: Essential Component of DeFi Ecosystem Due to its CRV token incentive emissions, which provide money for several other protocols, 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 people to avoid using curve.fi and curve.exchange until the protocol’s administrators could identify the exploit’s source. “We are becoming aware of a potential front-end issue approving a bad contract,” the Telegram announcement read. “For now, please do not perform any approvals or swaps. We’re trying...