The hacker, who stole millions of dollars from the Curve Finance pool that was hacked recently, returned some of the funds.
Curve Finance has recently been exposed to an exploit. However, many analysts think that the DeFi industry has shaken confidence with this event.
Curve Finacne hacker returns $8.5 million of stolen funds
Curve Finance suffered an exploit of $24 million on July 30 due to a Vyper-based smart contract bug. However, afterward, the exploiter returned 4,820 alETH worth $8.5 million to the protocol. Transactions took place across three separate transaction groups. The first transaction started with 1,000 alETH worth $1.7 million and looked like a test transaction. Within minutes, another 3,819 alETH worth $6.7 million was refunded.
Alchemix Finance is a credit-based DeFi protocol using Curve pools and received a total of 4,820 alETH refunds from the hacker. AlETH, or Alchemix ETH, is currently trading around $1,755 according to CoinGecko.
Curve Finance asked the hacker to return the money on August 3. The hacker responded to this request, asking Curve to verify the address 0xbabe.
Following the incident, Michael Egorov, the founder of the Curve protocol, entered into a series of over-the-counter deals where he traded more than 106 million CRV tokens worth $42 million to reduce the risk of liquidation. These actions were among the measures taken to increase the security of the protocol and prevent similar exploits.
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