CRV Trades at Premium Following Curve Finance Hack

• Curve Finance suffered a hacking attack with an estimated loss of up to $70 million.
• The native token, CRV, plunged over 12% following the exploit but traded at a premium on some South Korean exchanges.
• Upbit paused CRV deposits and withdrawals shortly after the incident.

Hack on Curve Finance

Curve Finance recently experienced an attack on several stable pools of the project, resulting in an estimated loss of over $40 million which may increase up to $70 million. This caused a plunge in the price of its native token, CRV.

Premium Prices on Bithumb and CoinOne

Despite this, the price of CRV spiked above $5.80 on Bithumb and $3 on CoinOne, trading at a 510% and 220% premium respectively. Upbit subsequently paused its deposits and withdrawals for CRV.

Impact on Stable Pools

The affected pools included alTH, msETH, and pETH due to “a malfunctioning reentrancy lock”. The USD valuation of Curve DAO (CRV) – the utility token of the DeFi protocol – headed south as a consequence of this event and it currently trades at around $0.64 (per GoinGeko’s data).

Steps Taken by Curve Finance

In response to this incident, Curve Finance has taken steps such as halting all stable pools that use Vyper versions 0.2-16 or earlier until further investigation is conducted into how to prevent similar events from happening again in the future. They have also suspended all new liquidity additions until their audit is completed as well as refunded all impermanent losses incurred by LP tokens affected by this event back into their respective wallets..


Despite suffering from an attack that resulted in large losses for users, Curve Finance has taken swift action to rectify it’s situation and make sure similar events do not occur again in future while some South Korean crypto exchanges have seen fit to trade CRV at premiums prices despite its dip in value overall

Vielleicht interessiert dich auch…