South Korea’s popular cryptocurrency exchange, Upbit, announced that it has stopped deposits and withdrawals after the collapse in CRV.
CRV, the leading name of DeFi platforms, had critical hours last night. A CRV whale instantly sold $7 million in the swap pool. In this case, it created a great danger by bringing the CRV price on the platform from $0.60 to $0.10. Also, the CRV price on leading crypto exchanges has lost more than 20 percent. Due to the danger in cryptocurrencies, Upbit announced that it is suspending CRV deposits and withdrawals.
“CRV is experiencing significant fluctuation”
Announcing that it has increased the security measures due to the mobility in the CRV, the popular South Korean stock exchange UpBit said in its statement;
Today, certain vulnerabilities have been discovered in some stablecoin pools associated with Curve (CRV). As a result, CRV is currently experiencing significant fluctuation. We advise you to be cautious when evaluating any investment in a CRV.
Addressing the problems with various crypto pools, Upbit temporarily suspended CRV transactions for security reasons. The exchange did not provide detailed explanations about the incident. In addition, he has not yet shared information about how long this suspension process will last.
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