The world of decentralized finance (DeFi) has been rocked by a major attack on the Curve protocol. Following this attack, which resulted in the loss of several million dollars from its pools, Curve attempted to negotiate with the thieves, setting a deadline for them to return 90% of the stolen amount. However, this deadline was passed without the thief complying with the demand. A reward of $1.85 million is now available to anyone who can identify and track down the assailant.
A friendly offer accompanied by an ultimatum to the pirate!
The attack, which occurred towards the end of July, targeted Curve’s stable pools, causing the embezzlement of over $52 million in cryptos, including considerable amounts from Alchemix, JPEGd and Metronome.
Last week, Curve submitted a negotiation proposal to the pirate, offering him a bounty equivalent to 10% of the amount stolen in exchange for the voluntary return of the remaining 90%. This offer included a commitment not to take legal action. Nevertheless, an ultimatum was set: if all the funds were not returned by August 6, the offer would be extended to the general public, encouraging everyone to join in the hunt.
A glimmer of hope emerged when the pirate responded to the ultimatum by starting to return the misappropriated funds. Initially, the pirate turned to Alchemixthen to JPEGdboth projects also suffered significant losses.
The attacker had returned $13.6 million from the Alchemix alETH-ETH pool, while the JPEG’d protocol had been repaid 5,495 Ether. However, these amounts are far from representing all the funds misappropriated from Curve. This prompted the DeFi protocol to put its threat into action.
Curve offers a substantial cash prize to anyone able to identify the pirate
Last Sunday, DeFi protocol Curve extended a bounty offer aimed at identifying the perpetrator of the attack that occurred on July 30. This bounty, originally intended for the hacker, has been opened to the public, offering assets worth 1.85 million to anyone able to provide information leading to the identification and conviction of the person responsible.
Once captured, legal proceedings will be initiated against the pirate, even if he had previously expressed his confidence in the face of possible consequences.
We’ll see in the future if the pirate, who had said that Curve Finance couldn’t find it, won’t finally be tracked down by the public.
As events continue to unfold, it becomes vital to begin the quest for a safer solution. This ensures that you are well prepared for any malicious intent.
Coming from a journalism university background, I came across Bitcoin and cryptocurrencies not long ago.
The potential of the Blockchain seduced me and I made it my research topic.