DeFi Platform Curve Offering $1,850,000 Bounty for Identity of Hacker – The Daily Hodl

Curve (CRV) is putting up a bounty to smoke out the hacker who drained the decentralized finance (DeFi) platform of tens of millions of dollars in crypto assets over a week ago.

In a note posted on the Ethereum (ETH) blockchain explorer Etherscan, Curve says that it is now offering a $1.85 million bounty to anyone who would provide information identifying the exploiter following the lapse of an amnesty period.

“The deadline for the voluntary return of funds in the Curve exploit passed at 0800 UTC (coordinated universal time). We now extend the bounty to the public and offer a reward valued at 10% of the remaining exploited funds (currently $1.85 million) to the person who is able to identify the exploiter in a way that leads to a conviction in the courts.

If the exploiter chooses to return the funds in full, we will not pursue this further.

Contact us at curvenegotiation@protonmail.com.”

Blockchain security infrastructure firm BlockSec said that several liquidity pools on Curve lost over $41 million following the hack that occurred in late July.

The hack also triggered a liquidity flight on the platform with the total value locked (TVL) on Curve falling from $3.25 billion prior to the exploit to around $1.58 billion after the incident. Curve’s TVL has partially recovered and sits around $2.4 billion at time of writing, according to DeFi Llama.

TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem.

Meanwhile, Curve’s native token CRV also witnessed a deep corrective move following the event, sliding from $0.75 to $0.59 in about a day. CRV has yet to recover and is trading at $0.608 at time of writing.

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• Source: https://dailyhodl.com/2023/08/08/defi-platform-curve-offering-1850000-bounty-for-identity-of-hacker/