Wintermute Hacker deposits funds into the Curve protocol. CRV prices decline along with network growth, whales continue to stay interested.
‘s trading pool. The attacker deposited the illegally-obtained funds into the protocol.
As a consequence of this action, the stolen funds now constitute 28% of the $409 million supporting Curve’s 3pool, a widely used decentralized trading pool. However, it appeared that Curve Finance’s governance couldn’t do anything about the hacker depositing the funds into their protocol.“All Curve pools are absolutely permissionless, so no one can stop anyone from depositing”.
Another reason the governance of Curve was helpless was that Curve is immutable. This meant that its code cannot be changed once deployed on the Ethereum blockchain. And its creators have no control over who interacts with it or provides liquidity. Egorov also noted that a positive aspect of the scenario was the transparency inherent in blockchain transactions. This meant that the perpetrator will encounter difficulty in concealing the misappropriated funds, as their movements will always be traceable.Even though the governance’s hands are tied, the sentiment towards the protocol could be impacted. Santiment’s data indicated that the weighted sentiment for Curve was negative.
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