In a significant hack, the thief who stole a substantial amount of funds from Curve Finance has returned to Alchemix.
The Crypto Shop AIRDROP Is Live, Get 3000 EMT Tokens Free = $30 Join Now
Alchemix, a decentralized finance (DeFi) protocol, confirmed that all the funds stolen from the alETH-ETH pool on Curve Finance were returned by the hacker. The hacker exploited a vulnerability in the Vyper programming language and managed to steal over $61 million from various stablecoin pools on Curve Finance on July 30.
The Hacker Accepts Bug Bounty Offer
The hacker who stole funds from Curve, Metronome, and Alchemix accepted their bug bounty offer on August 3. The joint effort to recover the stolen funds included a reward of 10% of the stolen funds, approximately $7 million, with an appeal to return the remaining 90%.
On August 4, the hacker initiated the return of funds to the Alchemix Finance team, starting with 4,820.55 Alchemix ETH (alETH) tokens valued at around $13.6 million.
We are extremely happy to announce that all funds stolen by the hacker of the Alchemix @CurveFinance pool have now been returned.
Full post mortem coming.
— Alchemix (@AlchemixFi) August 5, 2023
The hacker clarified that the reason for returning the funds was not due to fear of being caught but rather to prevent the destruction of the projects involved.
The attack on Curve Finance was one of the biggest in DeFi history, impacting multiple projects that used vulnerable versions of the Vyper programming language. The hacker targeted stablecoin pools with Ethereum-pegged tokens like alETH, pETH, and sETH, using reentrancy attacks to withdraw funds repeatedly from these pools.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News and Threads App
