Crypto exploits are a fascinating topic due to the enormous sums involved.
They also serve as a reminder about the risks associated with Crypto, especially DeFI.
We are not actively tracking Crypto exploits but might sporadically report about one.
“Curve, one of the main DeFi protocols on Ethereum, suffered an exploit yesterday that put over $100m at risk. The vulnerability hinges on a bug in the Vyper programming language, which runs parts of Curve’s ecosystem. Some estimates are suggesting losses of over $70 million. This security mishap caused a 17% drop in Curve DAO’s native token, CRV, raising concerns that the founder’s $70 million borrowing position on Aave could be liquidated and send shockwaves throughout the DeFi landscape.”
My Assessment
Curve is a very reputable and well-known project with good functionality. The interesting part here is that the exploit happened on the level of the underlying programming language. This might be a problem in other programming languages as well.
Commentary
https://twitter.com/hilmarxo/status/1685728930471235584