Cryptoriun

Emergency DAO Ceases Rewards for Pools Affected by Hacks

Emergency DAO Ceases Rewards for Pools Affected by Hacks

The Curve emergency DAO has decided to remove CRV rewards for several liquidity pools affected by recent exploits, including the July 30 Curve exploit and the July 6 Multichain exploit. The affected pools include alETH+ETH, msETH-ETH, pETH-ETH, crvCRVETH, Arbitrum Tricrypto, and multibtc3CRV. This decision was made by the Curve E-DAO committee and can be overridden by a full vote of the Curve DAO in the future. The announcement was made by Curve E-DAO member Gabriel Shapiro. The Multichain protocol experienced abnormal withdrawals on July 6, and the Curve team warned its users to exit multichain assets such as multiBTC. On July 30, Curve Finance itself was the victim of a reentrancy attack, resulting in the loss of over $47 million worth of crypto. Despite these exploits, the affected pools continued to produce CRV rewards, but they have now been removed to avoid incentivizing further participation in compromised pools.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.