Curve Finance (CRV) has issued a statement on Etherscan, addressing the hackers responsible for the recent exploit that resulted in the loss of over $60 million from the protocol. 

In the statement, Curve, Metronome & Alchemix have invited the hackers to discuss a potential bounty, offering a 10% reward for any stolen funds, which they can keep if they return the remaining 90%.

Curve Finance Gives Hackers Ultimatum

The group has emphasized that there will be no risk of them pursuing legal action or involving law enforcement if the hackers participate in this voluntary return process. 

However, suppose the hackers do not participate and complete the process by August 6. In that case, Curve Finance will expand the bounty to the public and offer the full 10% reward to anyone who can identify them in a way that leads to their conviction in court. The encrypted message on Etherscan further noted:

If you choose not to participate in the voluntary return and complete the process by August 6, we will expand the bounty to the public, and offer the full 10% to the person who can identify you in a way that leads to your conviction in the courts. We will pursue you from all angles with the full extent of the law.

To verify their ownership of the email address, anyone emailing Curve Finance will have to complete a verification process on-cain before any discussions occur.

The statement highlights Curve Finance’s commitment to recovering the stolen funds and bringing those responsible to justice. 

By offering a bounty and encouraging the hackers to return the funds voluntarily, Curve Finance is proactively resolving the situation. However, the group has also clarified that they will pursue all legal avenues to recover the funds if the hackers choose not to cooperate.

It remains to be seen whether the hackers will take Curve Finance up on their offer or whether the group will need to expand the bounty to the public. Nevertheless, this statement demonstrates Curve Finance’s determination to protect the protocol and its users and sends a strong message to would-be attackers that such actions will not be tolerated.

Aave DAO Member Suggests Tactical Move To Acquire CRV

An Aave Decentralized Autonomous Organization (DAO) member has proposed a strategic move to acquire CRV tokens using USDT from the Aave DAO treasury. 

Recent events surrounding Aave V2 have provided an opportunity to incentivize GHO liquidity through Curve voting power. 

The proposed acquisition of CRV tokens will benefit the Decentralized Finance (DeFi) ecosystem by providing additional liquidity to the Curve protocol. Additionally, the move will position Aave DAO to benefit from the ongoing “Curve wars” and gain extra voting power on the platform.

The Aave DAO member who proposed the move emphasized the importance of taking a strategic approach to treasury management. By acquiring CRV tokens with USDT, Aave DAO can maintain a conservative approach to treasury holdings while still supporting the growth of the DeFi ecosystem.

The proposal has received positive feedback from the community, with many members expressing support for the move. If the proposal is approved, it will be a significant step forward for Aave DAO and the broader DeFi ecosystem.

Overall, this proposal demonstrates the importance of strategic treasury management in the fast-paced world of DeFi. By taking a conservative approach to treasury holdings while still supporting the ecosystem’s growth, Aave DAO is setting an example for other DeFi projects to follow.

Despite the ongoing issues experienced by the Curve protocol, CRV has reported significant gains of over 4% in the last 24 hours, with the current trading price at $0.602. 

Featured image from Unsplash, chart from TradingView.com

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Filed under: Bitcoin - @ August 4, 2023 1:00 am