Source: Coindesk.com
Decentralized finance protocol Convergence, a Curve-based yield-enhancing protocol, a was exploited Thursday, sending its token's price to near-zero.
The attacker created (minted) 58 million of the protocol's CVG token using a vulnerability in the protocol's codebase, and swapped the tokens for 60 wrapped ether (wETH) and 15,900 crvFRAX stablecoin using liquidity pools on Curve, web3 security auditing
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The post "DeFi Protocol Convergence Hacked, CVG Token Plunges 99% on Curve" appeared first here Coindesk.com.
Source: Coindesk.com
