Curve hacker returns part of the stolen assets

Curve hacker returns part of the stolen assets

By Charles Thuo - min read
  • The hack that took place on July 30, resulted in Curve Finance losing $61 million in crypto assets.
  • The hacker also targeted Alchemix’s alETH pools and Metronome’s msETH stealing assets worth $22.6 million and $3.4 million respectively.
  • The hacker has returned at least $10 million worth of crypto assets to Alchemix’s multi-signature wallet.

In an attempt to facilitate the return of the assets during the $61 million Curve Finance hack, the perpetrator on Friday contacted Alchemix, one of the victims, using an Ethereum blockchain transaction.

Data on Etherscan shows that they then made multiple transfers totalling about $10 million worth of ether (ETH) and alETH to Alchemix’s multi-signature wallet.

It is worth noting that the governance token of Curve Finance, Curve DAO Token (CRV), saw a significant increase following the return of the stolen assets. The CRV token hit a daily high of $0.6288 following the news, which has given victims hope of recovering the stolen assets.

The news comes a few days after Huobi’s co-founder purchased 10 million CRV tokens from Curve Finance founder, who is seeking to reduce the stablecoins loans he had taken using CRV as collateral.

Hacker offered a bounty to return funds

A bounty to recover the money taken in the recent attack was announced by Curve Finance, Metronome, and Alchemix on August 3. The three projects declared that they are open to talking with anyone who was involved in the most recent Curve exploits.

The three companies have suggested offering the attacker(s) a 10% bounty of the stolen money in exchange for returning the other 90%.

As an inducement, the projects have promised that they won’t pursue further action or involve law enforcement if the attacker(s) voluntarily return the stolen funds.

But if the attacker(s) don’t return the remaining assets, the 10% bounty will be paid to whoever can locate and offer proof that will result in the guilty parties’ being found guilty in a court of law. The three DeFi platforms promise to pursue the attacker(s) to the fullest extent permitted by law and through all legal avenues.