Curve Finance, which was the victim of a million-dollar hack in July, continues to receive support from famous companies. Leading crypto exchange Binance extended a helping hand for the DeFi altcoin project. The latest move came from famous crypto investor DWF Labs.
DWF Labs secures million-dollar altcoin
Curve Finance suffered vulnerability breaches on several stable pools on July 30. Attackers soon stole million CRVs from the DeFi altcoin project. This hack put founder Michael Egorov’s futures positions at risk of liquidation. As we quoted as Kriptokoin.com, Binance was among the liquidity providers for Egorov. Others include famous crypto companies, including DWF Labs.
In recent developments, crypto company DWF Labs is securing 2 million Curve Tokens (CRV). Lookonchain reported today that the company is pulling its CRV reserves into cold wallets.
DWF Labs(@DWFLabs) withdrew 2M $CRV($972K) from #Binance 40 mins ago.https://t.co/ufyoilyFq8 pic.twitter.com/bohHiL4cmk
— Lookonchain (@lookonchain) August 29, 2023
Andrei Grachev, the founder of DWF Labs, gave the good news from account X. The founder shared that the company has moved 2 million CRV away from Binance. This means a large amount of CRV has been withdrawn from circulation. According to Grachev’s explanations:
We just sent 2 million CRVs from Binance to our on-chain wallet. I do some inventory management. Maybe in the future we’ll send coins back to Binance, we’ll keep you posted! Enjoy your crypto, cheers =)
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