DeFi Ecosystem Suffers Fallout From $50M Curve Finance Exploit

07/31 03:51

The DeFi ecosystem has been hit hard by a reentrancy attack on the Curve Finance stablecoin lending platform, resulting in losses of up to $52 million. The exploit affected several stable pools running older versions of the Vyper smart contract programming language and impacted various protocols, including Alchemix, JPEG’d, Metronome, deBridge, and Ellipsis. The TVL across the entire DeFi ecosystem has dropped by $2.3 billion since the exploit, with Curve Finance seeing a TVL drop of 44% to $1.8 billion. CRV prices have also taken a hit, with a 16% slump on the day to trade at $0.623.

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