Curve Finance Fights Back With Warning And Unrefusable Offer To Hacker
04 August 2023 - 11:00AM
NEWSBTC
Curve Finance (CRV) has issued a statement on Etherscan, addressing
the hackers responsible for the recent exploit that resulted in the
loss of over $60 million from the protocol. In the statement,
Curve, Metronome & Alchemix have invited the hackers to discuss
a potential bounty, offering a 10% reward for any stolen funds,
which they can keep if they return the remaining 90%. Curve Finance
Gives Hackers Ultimatum The group has emphasized that there will be
no risk of them pursuing legal action or involving law enforcement
if the hackers participate in this voluntary return process.
However, suppose the hackers do not participate and complete the
process by August 6. In that case, Curve Finance will expand the
bounty to the public and offer the full 10% reward to anyone who
can identify them in a way that leads to their conviction in court.
The encrypted message on Etherscan further noted: If you choose not
to participate in the voluntary return and complete the process by
August 6, we will expand the bounty to the public, and offer the
full 10% to the person who can identify you in a way that leads to
your conviction in the courts. We will pursue you from all angles
with the full extent of the law. To verify their ownership of the
email address, anyone emailing Curve Finance will have to complete
a verification process on-cain before any discussions occur.
Related Reading: Quant Explains How These Indicators Affect
Ethereum Price The statement highlights Curve Finance’s commitment
to recovering the stolen funds and bringing those responsible to
justice. By offering a bounty and encouraging the hackers to
return the funds voluntarily, Curve Finance is proactively
resolving the situation. However, the group has also clarified that
they will pursue all legal avenues to recover the funds if the
hackers choose not to cooperate. It remains to be seen whether the
hackers will take Curve Finance up on their offer or whether the
group will need to expand the bounty to the public. Nevertheless,
this statement demonstrates Curve Finance’s determination to
protect the protocol and its users and sends a strong message to
would-be attackers that such actions will not be tolerated. Aave
DAO Member Suggests Tactical Move To Acquire CRV An Aave
Decentralized Autonomous Organization (DAO) member has proposed a
strategic move to acquire CRV tokens using USDT from the Aave DAO
treasury. Recent events surrounding Aave V2 have provided an
opportunity to incentivize GHO liquidity through Curve voting
power. The proposed acquisition of CRV tokens will benefit
the Decentralized Finance (DeFi) ecosystem by providing additional
liquidity to the Curve protocol. Additionally, the move will
position Aave DAO to benefit from the ongoing “Curve wars” and gain
extra voting power on the platform. The Aave DAO member who
proposed the move emphasized the importance of taking a strategic
approach to treasury management. By acquiring CRV tokens with USDT,
Aave DAO can maintain a conservative approach to treasury holdings
while still supporting the growth of the DeFi ecosystem. Related
Reading: Binance CEO Shares Details Of $20 Million Scam Attempt The
proposal has received positive feedback from the community, with
many members expressing support for the move. If the proposal is
approved, it will be a significant step forward for Aave DAO and
the broader DeFi ecosystem. Overall, this proposal demonstrates the
importance of strategic treasury management in the fast-paced world
of DeFi. By taking a conservative approach to treasury holdings
while still supporting the ecosystem’s growth, Aave DAO is setting
an example for other DeFi projects to follow. Despite the ongoing
issues experienced by the Curve protocol, CRV has reported
significant gains of over 4% in the last 24 hours, with the current
trading price at $0.602. Featured image from Unsplash, chart
from TradingView.com
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