Curve Finance Pools Exploited Due to Code Vulnerabilities

On July 30, 2023, several liquidity pools on Curve Finance were exploited, resulting in approximately $70 million in losses and triggering panic within the DeFi ecosystem. Curve’s CEO, Michael Egorov, then confirmed on Telegram that $22 million worth of CRV tokens was drained from Curve’s swap pool. MEV bots have been heavily involved in front-running attempted hacks on Curve, resulting in the largest MEV block rewards in Ethereum’s history. At this time, Curve has not detailed any recovery plans, but publicly advised its users to withdraw funds from Vyper-based pools. We have labeled all addresses relevant to the Curve hacks in Chainalysis products and will continue to provide updates on the situation when possible.