• Curve Finance recently reported recouping 73% of the stolen funds from its reentrancy vulnerability exploit.
• White hat hackers and voluntary returns were instrumental in the recovery efforts.
• While a majority of the funds have been recovered, $18 million remain unaccounted for.
Exploit on Curve Finance
Curve Finance recently experienced a reentrancy vulnerability exploit, resulting in over $70 million in digital assets stolen from the protocol. Despite this, the decentralized exchange has reported that 73% of the stolen funds have been recouped from various parties.
White Hat Hackers
White hat hackers played an important role in recovering some of these funds. After monitoring notes of the hacker of AlchemixFi, PeckShieldAlert disclosed that $22 million had been returned to Curve and Alchemix’s Operation White Hat was able to recover a further $13 million. “c0ffeebabe.eth” also managed to retrieve $7 million of stolen funds as well as $1.6 million in synthetic protocol Metronome and $5.3 million in Curve trading pool assets back into circulation.
In addition to these recoveries, another hacker known as Jpegd frontrunner voluntarily returned 90% or 5,495 WETH (equaling $11.5 million) following a grace period set by Curve for their return deadline which was August 6th . However, despite this , there is still over $18 million missing from the original theft that hasn’t yet been accounted for .
How Can Crypto Users Protect Themselves?
Crypto users can protect themselves against hacks and scams by familiarizing themselves with available resources such as DailyCoin’s article: As Another Token Bridge Gets Hacked, How Can Crypto Users Protect Themselves? This article provides helpful advice on how users can keep their crypto assets safe when transacting online .
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