BlockSec, which provides security audit services for crypto software, estimated the hack had already led to more than $40 million (R706 million) in losses.
, chief executive officer and founder of crypto risk modelling firm Gauntlet, estimated the exploiter made away with about $20 million of CRV and a version of Ether.Curve Finance is the largest decentralized exchange after Uniswap, according to data provider and aggregator DeFiLlama.CRV is used as collateral on a decentralized lending service known asGauntlet’s Chitra said that so far there were no signs of “bad loans” on the Aave platform due to the slide in CRV.
Digital assets like Bitcoin and Ether wobbled a tad on concerns about wider potential knock-on effects but later stabilised.Hackers pilfered a record $3.8 billion worth of crypto in 2022 and Curve Finance was among the long list of organizationsThe pace of incidents has cooled but the risk of security breaches still clouds decentralised finance, or DeFi, where people rely on blockchain-based software known as smart contracts to undertake activities like trading or lending.
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