Curve Finance Is Being Hacked By DNS, Damage Is At $570,000

Curve Finance suffered a user interface hack early this morning on August 10. Curve has addressed the issue and recommends users to revoke any approved contracts on its platform.

Curve Finance DNS Hacked

Curve one of the largest exchanges holding over $6 billion TVL value has solved a hack they encountered earlier today. The hack was discovered when a Paradigm researcher tweeted that Curve’s user interface had been compromised.

The Curve team was able to find and revert the attack, and issued a statement asking everyone to revoke any contract approvals on their platform.

The hackers used a Domain Name Service (DNS) spoofing attack, duplicating the website and redirecting the DNS point to their IP address. They then add approval requirements to a malicious contract to steal funds.

Users who have connected to Curve with their MetaMask wallet are at risk of having their funds stolen. According to CZ, hackers took away about $570,000.

The hacker tried to transfer funds through FixedFloat, a fully automated cryptocurrency exchange on the Bitcoin Lightning Network. The exchange was frozen and secured about $200,000 of the stolen funds.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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