Curve Finance Hacked for $570,000 Worth of ETH

10.08.2022 09:54
by Nina Petrov
1 min read

The well-known decentralized exchange, Curve Finance, was hacked for $570,000 worth of Ethereum. In a frontend exploit, the attackers have manipulated Curve’s website so as to redirect unsuspecting users to a destination where they could collect the funds from users’ transactions.

According to the Web3 sleuth, Zachxbt, the thieves then used the FixedFloat crypto exchange in an attempt to launder the money. However, FixedFloat has since frozen some $191,000 worth of the stolen ETH.

In the meantime, Curve has fixed the issue. The company stated that only the curve.fi domain was affected, while the curve.exchange domain remained secure.

Curve Finance is a DEX and AMM (automated market maker) which offers stablecoin and wrapped coins trade. It recently announced that it will be launching its own stablecoin.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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