Curve Finance resolved a hack it suffered earlier today, the company said in a late-afternoon Twitter update.
The hack was discovered when a Paradigm researcher tweeted that Curve's front end had been compromised.
The Curve team was able to find and revert the hack, and issued a statement asking people to revoke any contract approvals on its platform.
The hacker used a Domain Name Service (DNS) spoofing hack, cloning the site and redirecting the DNS point to their IP address. Then, they added approval requests to a malicious contract to steal the funds.
Users who had connected to Curve with their web3 wallets were at risk of having their funds stolen. ZachXBT, an anonymous on-chain investigator, reported that the hacker took approximately $570,000. The hacker tried moving funds through FixedFloat, a fully automatic cryptocurrency exchange on the Bitcoin Lightning Network. The exchange froze and secured roughly $200,000 of the stolen funds.
"This did not appear to be a hijack at the registrar level, but rather systems at @iwantmyname compromised themselves," TCPShield founder Steven Ferguson tweeted. His company is a Distributed Denial-of-Service (DDoS) protection platform.
Curve Finance is one of the largest decentralized exchanges by total value locked (TVL), holding over $6 billion.
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