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Quick Take
- Millions of CRV tokens were taken minutes before a white hat mission to protect the funds was set to take place.
- This is part of a series of exploits taking place today.
Millions of curve DAO (CRV) tokens were stolen minutes before a white hat rescue mission to safeguard the funds, according to blockchain data and Curve contributor Banteg. "crv/eth pool drained minutes before a whitehack operation," said Banteg on Twitter. Current estimates suggest 7 million of CRV and $14 million of wrapped ether (WETH) were taken in the exploit. The tokens were stolen from the CRV/ETH pool on Curve Finance. Curve Finance is a decentralized exchange (DEX) optimized for efficient stablecoin trading. It offers multiple pools for trading tokens against primarily stablecoins but also other tokens. Curve is currently sufferening from a vulnerability that affects multiple pools. Prior to this exploit, $26 million of tokens were stolen from several other pools. This impacted projects including JPEGd, Metronome and Alchemix. The price of CRV has fallen twice today. It dropped from $0.73 to $0.70 upon the earlier movements of funds and then fell again to $0.64 after the latest theft. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.