- July 31, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting the Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Several stable pools on Curve Finance have been exploited on July 30, due to a reentrancy vulnerability in certain versions of the Vyper programming language. Losses have racked up over $52 million, leading to a plummeting of Curve’s native CRV token. Amid the chaos, An ethical hacker managed to retrieve $5.4 million worth of Ether from an exploiter and returned it to the DeFi protocol Curve Finance. Meanwhile, Sam Bankman-Fried’s lawyers are trying to seal documents related to an interview he gave The New York Times and the United States Senate passed a national defense bill that includes a provision targeting crypto mixers.
Ethical hacker retrieves $5.4M for Curve Finance amid exploit
An ethical hacker managed to return $5.4 million worth of Ether (ETH) from an exploiter and returned it to the decentralized finance (DeFi) protocol Curve Finance amid the recent hack.
#PeckShieldAlert c0ffeebabe.eth has returned 2,879 $ETH (~$5.4m) to #Curve deployer https://t.co/33BJLaq12A pic.twitter.com/2Jq0JOsrhV
— PeckShieldAlert (@PeckShieldAlert) July 31, 2023
A maximal extractable value bot operator with the username “c0ffeebabe.eth” used a front-running bot against a malicious hacker to secure almost 3,000 ETH. The funds were then returned to the Curve deployer address, which looks to be its rightful custodian.
Curve Finance pools exploited due to reentrancy vulnerability
Several stable pools on Curve Finance using Vyper were exploited on July 30, with losses reaching over $52 million.
The cause has been pinned on a malfunctioning reentrancy lock, affecting pools using Vyper 0.2.15, 0.2.16 and 0.3.0. At least four liquidity pools on Curve Finance protocol has been impacted.
“The short answer is that everything that could be drained was drained. The targeted pools are aETH/ETH, msETH/ETH, pETH/ETH and CRV/ETH. All remaining pools are safe and unaffected by the bug,” Curve Finance said on Discord.
Update #PeckShieldAlert There are ~$52M exploited so far from @AlchemixFi, @JPEGd_69, @MetronomeDAO,@DebridgeFinance, @Ellipsisfi and #Curve CRV-ETH https://t.co/o1j83HgCB3 pic.twitter.com/OoI6KyL05e
— PeckShieldAlert (@PeckShieldAlert) July 30, 2023
Vyper is a contract programming language designed for Ethereum Virtual Machine (EVM). It is considered one of the most widely used Web3 programming languages, which means the bug in three of its versions could have an impact on several other protocols.
The attack has affted a number of decentralized finance projects, with Alchemix’s alETH-ETH reporting outflows of $13.6 million, PEGd’s pETH-ETH pool drained by $11.4 million, Metronome’s sETH-ETH pool hacked by $1.6 million and over 32 million in Curve DAO (CRV) tokens worth over $22 million drained over the past few hours.
The BNB Smart Chain (BSC) has reportedly suffered copycat attacks with around $73,000 worth of cryptocurrencies on BSC across three exploits also stolen.
SBF’s legal counsel requests NYT documents be sealed
Lawyers representing former FTX CEO Sam Bankman-Fried have requested a New York district court seal documents related to his interviews with The New York Times.
Bankman-Fried, also known as SBF, wants the documents sealed because they reveal important details about his relationship with girlfriend-turned-business-partner Caroline Ellison. Ellison was the head of Alameda Research when SBF’s house of cards began to unravel. She escaped a potential 110-year prison sentence after reaching a plea deal with the state attorney for the Southern District of New York.
SBF’s legal team said his interview with The New York Times could expose details about Ellison’s private journals. As such, the lawyers have requested Judge Lewis Kaplan file the documents under a seal to “avoid their public dissemination.”
SBF's lawyer: No objection, your Honor.
Judge Kaplan: Who should go first with a written submission? The government. When?
AUSA Sassoon: Friday or tomorrow.
Judge Kaplan: Friday is fine with me. Careful attention to the statute and case law— Inner City Press (@innercitypress) July 26, 2023
SBF is currently under a gag order that prevents him from making extrajudicial statements related to his criminal proceedings. Although Kaplan is expected to drop a criminal charge of campaign finance violations, the former FTX CEO still faces 12 criminal counts. His court proceedings begin in October.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
