The Curve Finance team opened a bounty program to increase public efforts to catch the Curve Finance exploiter.
Curve Finance is a popular decentralized stablecoin trading platform. On 30 July 2023, the platform faced a hack attack on its different-2 pools. Through the hack attack, the attacker successfully drained nearly $61 million worth of crypto assets. Later the Curve Finance team invited that hacker to keep 10% of the stolen funds & return the rest of the funds. The hacker responded & accepted the offer.
So far, the curve finance exploiter returned 4,820.55 Alchemix ETH (alETH).
And also the hacker returned stolen funds to Non Fungible token protocol JPEG’d, which was nearly $10 million.
That means, the exploiter returned a very small fraction of the stolen funds and disappeared.
The Curve Finance team confirmed that the deadline for the hacker to return the funds has been over, so they opened a bounty program to give a reward of up to $1.85 million to that person who will help to identify the hacker.
On 6 Aug, the majority of the crypto traders were thinking that hackers will return the stolen funds, and that brought significant confidence among the investors to trade in the Curve token market.
But now Following this news, curve token is struggling badly to grab stability.
At present Curve Finance founder, Michael Egorov is trying his best to maintain the Curve Finance services stablecoin by selling his Curve token holdings to the different-different institutions via OTC trading to collect money to insert liquidity on the affected Curve Pools.
Read also: Huobi again facing insolvency rumors