Following a recent hacking incident on its platform, Curve Finance has successfully recovered 70% of the approximately $50 million in lost funds, bringing relief to users and stakeholders who were concerned about the security breach.
The platform revealed that while a significant portion of the compromised funds has been reclaimed, ongoing investigations are focused on recovering the remaining amount.
The restored funds were returned by multiple hackers involved in the incident or preserved with the aid of ethical operators of MEV bots, including c0ffeebabe.eth. Additionally, Curve is actively working on assessing the proportional shares of each affected user to ensure a fair distribution.
In response to the breach, Curve had also announced a $1.85 million reward for anyone who can accurately identify the remaining attackers. The hack occurred on July 30 and resulted in a loss of $73.5 million across various projects in Curve’s factory pools, including prominent ones like JPEG’d, Metronome, and Alchemix.
The attack exploited a “reentrancy vulnerability” within the factory pools’ smart contract logic, enabling malicious draining of funds.
