In a technical snag that exposed the vulnerabilities in the blockchain sector, the popular exchange liquidity pool Curve Finance made headlines after their website malfunctioned briefly. They announced via they social media page that they were subjected to hacking attempts and requested consumers to cease any ongoing activities on their website. This snag also purportedly costed them more than 500 grand. They assured their consumers that their exchange platform itself was disconnected from this ambush as it operates with another DNS-name.
Curve Defends A Malware Curveball
The problem occurred only for a short while but had users extremely worried and pouring out their concerns about their funds online. Curve eventually managed to overcome the hitch and ward off the cyber assailants. They did emphasize to their crypto users that though the situation was curtailed, they had to instantly terminate any greenlit-contracts they gave access to on their site from the last couple of hours. Some also wondered how the ambusher may have done this. Crypto enthusiasts conjectured that they may have done this by messing with the entries on their DNS-server to redirect the traffic to a fraudulent site.
This incident comes as a bit of a setback for Curve as they were just beginning to attract experienced crypto enthusiasts last month. They showed signs of promising development despite the cloud of sluggishness that’s descended on the crypto ecosystem lately. Research and analysis experts were of the opinion that the platform had a lucrative future ahead. Though it will hopefully not deter away the crypto enthusiasts, it has exposed a gap in their security system they will do well with upgrading.