Curve Finance (CRV) published a statement on Etherscan, addressing the hackers responsible for the recent exploit that caused the protocol to lose over $60 million.
In the statement, Curve, Metronome & Alchemix invited hackers to discuss a potential bounty, offering a 10% reward for any stolen funds, which they can keep if they return the remaining 90%.
Curve Finance gives hackers an ultimatum
The group stressed that there will be no risk of them suing or implicating law enforcement if the pirates participate in this voluntary return process.
However, let’s assume the hackers don’t participate and complete the process by August 6th. In this case, Curve Finance will extend the bounty to the public and offer the full 10% reward to anyone who can identify them in a way that leads to their conviction. in class. The encrypted message on Etherscan further stated:
If you choose not to participate in the voluntary return and complete the process by August 6, we will extend the bounty to the public and offer the full 10% to the person who can identify you in a way that leads to your conviction in court. We will pursue you at all angles to the full extent of the law.
To verify ownership of the email address, anyone emailing Curve Finance will need to complete an online verification process prior to any chat.
The statement outlines Curve Finance’s commitment to recovering stolen funds and bringing those responsible to justice.
By offering a bounty and encouraging hackers to return the funds voluntarily, Curve Finance is proactively addressing the situation. However, the group also clarified that it will pursue all legal avenues to recover the funds if the hackers choose not to cooperate.
It remains to be seen if the hackers will accept their offer from Curve Finance or if the group will have to extend the bounty to the public. Nonetheless, this statement demonstrates Curve Finance’s determination to protect the protocol and its users and sends a strong message to potential attackers that such actions will not be tolerated.
Aave DAO member suggests tactical move to acquire CRV
A member of the Aave Decentralized Autonomous Organization (DAO) propose a strategic move to acquire CRV tokens using USDT from the Aave DAO treasury.
Recent events surrounding Aave V2 have provided an opportunity to encourage GHO liquidity through Curve’s voting power.
The proposed acquisition of CRV tokens will benefit the decentralized finance (DeFi) ecosystem by providing additional liquidity to the Curve protocol. Additionally, this move will allow Aave DAO to benefit from the ongoing “curve wars” and gain additional voting power on the platform.
The Aave DAO member who proposed the move stressed the importance of taking a strategic approach to cash management. By acquiring CRV tokens with USDT, Aave DAO can maintain a conservative approach to Treasury holdings while supporting the growth of the DeFi ecosystem.
The proposal received positive feedback from the community, with many members expressing their support for the move. If the proposal is approved, it will be a significant step forward for Aave DAO and the wider DeFi ecosystem.
Overall, this proposal demonstrates the importance of strategic cash management in the rapidly changing world of DeFi. By taking a conservative approach to treasury holdings while supporting the growth of the ecosystem, Aave DAO is setting an example for other DeFi projects to follow.
Despite the ongoing issues with the Curve protocol, CRV has seen significant gains of over 4% in the past 24 hours, with the current trading price at $0.602.
Featured image from Unsplash, chart from TradingView.com