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Home » Curve Finance expects a “reasonable refund” of funds to users affected by the hack

Curve Finance expects a “reasonable refund” of funds to users affected by the hack

Curve Finance, one of the largest decentralized exchanges on the Ethereum network, announced that it is looking into the “proper” return of customer funds stolen in last July’s hack.

shortly To update of the case posted on its X (formerly Twitter) account, the company emphasized this they are working “on measuring the respective quotas of each affected user”.

Such a measurement should initiate an “orderly distribution” of fundsalthough it is unclear when it will begin.

The exchange reminded in its statement that so far Achievement of 70% recovery of stolen funds after the hack. Curve Finance also reported in its update that an active investigation into the attack was underway.

On July 31, a hacker caused a security incident affecting four of its liquidity pools that used the Vyper compiler. Special, in versions 0.2.15, 0.2.16 and 0.3.0 of the programas reported by CriptoNoticias.

This last hack is added to the others has suffered from this decentralized finance protocol in the past. Curve Finance was also hacked a year ago. This attack caused a loss of more than half a million dollars.

Although it later turned out that the hacker lost 80% of his loot after sending it to Binance, the largest centralized bitcoin and cryptocurrency exchange. As reported in this medium, he hasThe platform managed to block and recover $450,000belongs to Curve Finance users.

recovery of funds

The fund recovery stated by Curve Finance was nothing more than a return of the money stolen by the hackerwho complied with the ultimatum issued by the company on Friday, August 4th.

As reported by CriptoNoticias, the company offered the hacker 10% of the stolen loot and promised not to take any legal action or prosecution against him. This is when the hacker agrees to return the stolen money.

From that day, the hacker started returning the funds. In total, returned $52.3 millionwhich is 73% of the total amount stolen, which is approximately $73.5 million.

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