Cybersecurity researcher Marco Croc, associated with Kupia Security, received a $250,000 reward for identifying this critical vulnerability. The Curve Finance team acknowledged that the exploit could have allowed hackers to commit multi-million dollar asset thefts from the DeFi protocol's liquidity pools.
The administration of Curve Finance assured that Marco Kroc's remuneration was the maximum possible.
“Thank you very much for revealing the error! If an attack in this direction took place, it could cause serious problems. This is an example of very professional work,” Curve Finance said.
Any such incident could lead to serious panic among protocol users, Curve Finance representatives admitted.
On July 30 last year, the Curve Finance protocol was hacked. The Curve (CRV), JPEG'd (JPEG), Alchemix (ALCX) and Metronome (MET) liquidity pools were hacked. The total loss amounted to $61.7 million. The decentralized finance protocol community later voted for compensation payments to participants in the hacked liquidity pools.
Source: Bits
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