While the hacking incident that occurred in CRV late yesterday shook the world of DeFi, there was a short-term panic on the side of Bitcoin and altcoins.
With the hack, the CRV price dropped to $0.58 on Binance, while it dropped to $0.1 on some exchanges.
After the attack on CRV, exchanges suspended CRV deposits and withdrawals.
Some exchanges experienced interesting price movements as there was no CRV liquidity.
After the withdrawals and deposits were suspended, the CRV price started to be traded at a high premium on the South Korean cryptocurrency exchanges Bithump and Upbit.
The CRV/KRW price on the Bithump exchange rose 800% to KRW 7630, or $6.
As of our news hour, the CRV price on the Bithump exchange is trading at about $ 4.65, while it is trading at $ 0.64 on Binance and other exchanges.
Curve is an important liquidity provider for DeFi, so the events here are closely followed by the entire industry.
In its latest update, Curve Finance confirmed that 4 liquidity pools were hacked and asked investors to exit these pools.
“Due to an issue with the Vyper compiler in versions 0.2.15-0.3.0, the following repositories were hacked:
crv/eth tool/eth mseth/eth peth/eth
Another potentially affected pool is arbitrum's tricrypto. Auditors and Vyper developers haven't found a profitable exploit, but please get out of it.”
Justin Sun stated that CRV is important to the DeFi ecosystem and said that their support is with the CRV team and other protocols.
Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and users affected. As a community, let's support and strengthen the security measures to protect our decentralized ecosystem. We are here to support! 🤝
— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 31, 2023
