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.

DeFi protocol Alchemix has issued a statement on Twitter regarding the recent exploit on Curve Finance's alETH/ETH pool. Alchemix was notified by Curve on July 30th of a potential exploit caused by a Vyper bug. Alchemix quickly worked to remove AMO-controlled liquidity from the curve pool via the AMO contract, but the exploit was executed on Curve pool contracts.

Curve Finance's factory pools have been hit by a reentrancy vulnerability, which allowed attackers to drain funds or exploit the contract's logic. The vulnerability led to significant outflows across various associated pools, resulting in over $26 million being lost. The attacker targeted Curve's factor pools of multiple projects, including JPEGd, Metronome, and Alchemix. The attack involved a sequence of interactions initiated with a flashloan, which appears to exploit the reentrancy vulnerability associated with certain compiler versions of Ethereum smart contract programming language Vyper. Investigations are ongoing, but there are speculations that whitehat hackers could be involved in a rescue operation.

DeFi protocol Curve Finance said on social media that crvUSD borrowing demand has brought total borrowing to $79 million, with interest rates rising to around 2%.

July 4 (Cointime) -DeFi protocol Curve Finance posted on social media: There are indeed many fraudulent accounts on Twitter. For example, we will (never) do any airdrops. Another way to tell the difference: our account doesn't have a blue checkmark, while the scammers do.

June 23 (Cointime) - The amount of CRV being used as collateral on Aave has been growing rapidly, raising concerns about potential risks. This surge in lending and borrowing positions was caused by Curve Finance raising its debt ceiling through a proposal that was passed on June 8th.

June 20 (Cointime) - Curve Finance, a decentralized exchange, is voting on a proposal to accept Wrapped Ether as collateral for its crvUSD stablecoin. If approved, users can use WETH as collateral and mint crvUSD. The debt ceiling for WETH collateral is set at $200 million. Currently, Curve accepts Wrapped Staked Ether and Staked Frax Ether as collateral for minting its stablecoin. The crvUSD stablecoin is over-collateralized by supported crypto assets and is underpinned by an algorithm called Lending-Liquidating AMM.

June 15 (Cointime) - The founder of Curve Finance, Michael Egorov, has sent $1.3 million worth of tether (USDT) from his wallet, which is linked to a large debt taken from Aave. This partial payback eases the risks associated with the loan, which has drawn attention from some members of the Crypto Twitter community. Egorov's wallet currently holds over 288.7 million Curve DAO (CRV) tokens, valued at $167 million, and has around 60.7 million USDT borrowed against it. The open position has a health rate of 1.55, but will be automatically liquidated if it drops below 1.00.

Three top crypto venture capital firms, ParaFi, Framework Ventures, and 1kx, are involved in a high-stakes legal dispute with Michael Egorov, the founder of decentralized exchange Curve Finance. The firms claim that Egorov engaged in deceptive practices and misappropriation of trade secrets, resulting in financial damages. Egorov's defense team argues that the allegations are a ploy to counter ongoing litigation in Switzerland.

Curve Finance, a decentralized exchange, has added support for wrapped staked ether (wstETH) as collateral for its decentralized stablecoin crvUSD. The vote to introduce this collateral passed with 100% of votes in support and met a quorum of 84.5%. Users can now put up their wstETH as collateral and mint a portion of that value in crvUSD stablecoin, with a 6% borrow rate.