Curve Finance (CRV), a leading decentralized finance (DeFi) protocol, announced significant progress in its recovery efforts following a recent hack that resulted in losing $73.5 million across several projects within its factory pools. The attack on July 30 exploited a critical security flaw known as a “reentrancy vulnerability,” allowing malicious actors to drain funds from Curve’s smart contracts. Curve Finance Commits To Restitution Process For Hacked Funds In a significant effort, Curve Finance has successfully retrieved 70% of the funds affected by the hack. While this achievement marks an important milestone, an active investigation is underway to recover the remaining balance and hold the perpetrators accountable. Related Reading: Kraken Surges Ahead In Altcoin Liquidity To Overtake Coinbase In US: Kaiko Understanding the gravity of the situation, Curve Finance has also taken proactive measures to ensure a fair and transparent distribution of the recovered funds to affected users. The protocol is diligently working to measure the respective shares of each impacted account, aiming to facilitate an equitable restitution process that prioritizes user protection and trust restoration. Curve Finance’s recover ..
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