Web3 Diaries-A $100 mn Exploit Destabilized “CRV” Token
Curve, a stablecoin exchange at the heart of decentralized finance (DeFi) on Ethereum, has fallen a victim to an exploit.
The project has assessed more $100 million worth of cryptocurrency at risk due to a “re-entrancy” bug in Vyper, a programming language used to power parts of the Curve system. Several stablecoin pools on the platform — used for pricing and liquidity on a number of different DeFi services — have been drained by hackers so far.
Other projects that use the Vyper programming language could share the same vulnerability.
It is unclear as to how much had been drained from Curve as a result of the attack. BlockSec, a blockchain auditing firm, estimated the total losses above $42 million in a preliminary analysis posted to Twitter.
BNB Smart Chain Hit With Copycat Vyper Attack, $73K Exploited
A programming flaw in the Vyper language has apparently led to copycat attacks on the BNB Smart Chain (BSC), similar to the assault on the decentralized finance (DeFi) protocol Curve Finance.
Amid the exploits carried out on Ethereum, Blockchain security firm BlockSec tweeted on July 30 that around $73,000 worth of cryptocurrencies on BSC across three exploits had also been stolen.
Similar attacks against Curve Finance liquidity pools have resulted in losses of more than $41 million, according to the most recent BlockSec estimates.
Circle, Gemini, Wintermute And FalconX Expand Into Asia Via Singapore
Wintermute, a market-making firm, plans to expand into the Asian market by relocating 4% of the firm’s staff to Singapore.
Yoann Turpin, a co-founder of the UK-based firm, will be among the staff making the move over to the city-state.
The move comes after Circle snagged a digital-token license in Singapore.
Elsewhere, Gemini has said it plans to hire more than 100 employees in Asia as part of its expansion in the region. Crypto firm FalconX also plans to expand into Asia, having also applied for Singapore’s digital token license, Bloomberg reported.
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