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Traders pile into short positions in the perpetual futures market as potential liquidation of founder's crypto borrowing may destabilise the broader decentralized finance ecosystem. Original Source
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Bitcoin was recently outperforming Ether, the second largest crypto in market value, and other major altcoins by market capitalization. ETH was changing hands at $1,853, down 0.5% from Sunday, same time. SOL, TRX and MATIC, the tokens of smart contract platforms, Solana, Tron and Polygon, were recently off 1.8%, 2.3%
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Curve, a stablecoin-focused decentralized exchange (DEX), was the victim of an exploit late Sunday according to a tweet from the project. Curve relies on smart contracts instead of middlemen to offer financial services such as stablecoin borrowing, trading and lending to users. Upwards of $100 million worth of cryptocurrency are
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“Today, certain vulnerabilities have been discovered in some of the stablecoin pools associated with Curve (CRV). As a result, CRV is currently experiencing significant volatility. We advise exercising caution when considering any investments related to CRV,” reads the announcement. “To ensure the safety of digital asset transactions, we have temporarily
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Upwards of $100 million worth of cryptocurrency are at risk due to a “re-entrancy” bug in Vyper, a programming language used to power parts of the Curve system. Several stablecoin pools on the platform — used for pricing and liquidity on a number of different DeFi services — have been
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Curve DAO’s governance token CRV dropped 12% on June15 after reports surfaced of risky loans taken by its founder, Michael Egorov, on Aave. The token recorded its lowest trading level against ether (ETH) at 0.00035010 ETH on June 15.According to on-chain analytics outlet LookOnChain, Egorov deposited 431 million CRV (worth
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Lending protocol Aave DAO has already been recommended to “freeze” millions worth of CRV tokens. Original Source
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Curve Finance founder Michael Egorov has deposited $24 million worth of Curve DAO (CRV) tokens to decentralized lending platform Aave to mitigate against liquidation risk on a $65 million stablecoin loan. Source
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The maneuver comes ahead of the activation of a major tech upgrade of the protocol called Aave v3. Source
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