On Sunday, July 30, there were five cyber attacks on the decentralized Curve Finance protocol, resulting in an estimated $70 million in crypto losses. The attacks exploited a vulnerability in certain versions of the Vyper programming language. Some attacks were carried out by white-hat actors, intending to return the funds later. The net losses totaled around $50 million, which could have an impact on the entire DeFi ecosystem. The incident affected the reputation and liquidity of Curve Finance. The TVL of the protocol dropped significantly, and the CRV governance token's price also suffered losses. The DeFi space has experienced significant damages in the past due to code bugs and organized exploits, making it imperative to address security concerns.
