Daily News | Curve Hacking May Be Supported by Some Countries, The Largest MEV Reward Block in Ethereum's History Has Been Generated, Focus on The 7 Top Projects That Will Unlock Tokens

Crypto Daily Digest: Curve hacking may be supported by some countries and may be hacked due to a Vyper version error vulnerability, the largest MEV reward block in the history of Ethereum has been generated

Today, @fubuloubu, a contributor to the smart contract language Vyper, said in response to the Curve hacking, “It will take several weeks to several months to find the vulnerability, perhaps by a Clique or team. We may find more information soon, but considering the resources invested, I think it is reasonable to suspect that hackers supported by the state may participate in it.”

23pds, the Chief Information Security Officer of SlowMist, stated the official document recommended by Vyper is actually an incorrect version.

According to the previous report, the Ethereum programming language Vyper announced that Vyper versions 0.2.15, 0.2.16, and 0.3.0 had a recursive lock vulnerability with function failure. We are currently investigating, but any projects using these versions should contact us immediately.

The official response of Curve stated that because Vyper 0.2.15 has a vulnerability, some stablecoin pools (alETH/msETH/PATH) have been hacked. We are uating the situation and will release updates to the community as the situation develops. The other pools are safe.

According to DefiLlama data, the total lockdown volume (TVL) of Curve Finance has decreased from $3.266 billion on July 30 to the current $1.869 billion, a 24-hour decrease of 42.78%, due to the hack.

Impacted by the hack, some of the largest MEV reward blocks in Ethereum history were generated on July 31. Among them, Slot 6,992,273 received 584 ETH rewards; Slot 6,993,342 received 345 ETH rewards; Slot 6,992,050 received 247 ETH rewards; Slot 6,993,346 received 51 ETH rewards.

eric.eth further explained that due to a hacker attack on Curve, a robot noticed a hacker intrusion in the MEV pool, copied tx, and ran away. For this, they pay a large amount of ETH to block producers to achieve a competitive advantage.

According to mevboost.pics, yesterday was the most profitable day for MEV awards since Ethereum merged last year. It is estimated that 600,623 ETH ($11.1 million) was paid to the verifier as MEV awards. Set a record high, higher than the previous 5,103.75 ETH on May 11.

According to Token Unlocks data, this week there will be a one-time unlocking of 7 crypto projects, including dYdX, Galxe, Acala, Nym, Liquid, Tornado Cash, and Eluer, with a total unlocking value of approximately $26.976 million.

dYdX unlocked 6.52 million tokens (approximately $13.56 million) at 15:00 pm (UTC) on August 1, accounting for 3.81% of the total supply;

Galxe unlocked 7.61 million tokens (approximately $9.75 million) at 12:00 am (UTC) on August 5, accounting for 16.51% of the total supply;

Acala unlocked 27.43 million tokens (approximately $1.81 million) at 7:00 am (UTC) on August 1, accounting for 3.56% of the total supply;

Nym unlocked 3.13 million tokens (approximately $620,000) at 00:00 am (UTC) on August 4, accounting for 0.66% of the total supply;

Liquid unlocked 657,300 tokens (approximately $736,000) at 00:00 am (UTC) on August 5, accounting for 0.71% of the total supply;

Tornado Cash unlocked 22,800 tokens (approximately $80,600) at 11:06 am (UTC) on August 5, accounting for 1.51% of the total supply;

Eluer unlocked 156,200 tokens (approximately $420,200) at 11:42 am (UTC) on August 2, accounting for 0.84% of the total supply.

Today’s Main Token Trends

BTC

At the end of the month, BTC opened at $29.2K, exhibiting a bearish trend with a weak volume of funds within the market. The short-term outlook remains bearish with a clear head-and-shoulders pattern, and a bearish strategy is suggested, waiting for a retracement to $28.5K and the purple trendline.

ETH

ETH’s opening at the beginning of the month broke below the neckline at $1,857, and in the short-term, attention is focused on whether it will drop back to $1,833. If it does, the head-and-shoulders pattern will be confirmed, and it might continue downwards toward the target of $1,755. The short-term trend is bearish.

CRV

CRV continues to face negative factors, resulting in a crash in the secondary market. The first target at $0.558 has been breached. Those shorted at $0.608 should watch for further targets at $0.541, $0.527, $0.517, and strong support at $0.477.

Macro: The September interest rate resolution remains inconclusive, and the Federal Reserve is confident in achieving a soft landing for the economy

Yesterday, spot gold fell first and then rose, narrowly staying at the $1,950 level during the session and starting its upward trend in the pre-US session. It briefly rose to an intraday high of $1,972.50 and eventually closed up 0.3% at $1,965.16 per ounce, setting its best monthly performance in four months; Spot silver rose ahead of the US market with gold, rising by over 2% during the session before closing 1.7% higher at $24.76 per ounce.

The U.S. Dollar Index ended the day up 0.16% to 101.86 with a mixed trend. But on the monthly line, the US index closed green for the second consecutive month. US bond yields rose first and then fell, with the two-year US bond yield dropping to an intraday low of 4.843% and eventually closing at 4.885%; The 10-year US Treasury yield was hindered at the 4% level and ultimately closed at 3.967%.

On the last trading day of July in the US stock market, the three major stock indices fluctuated narrowly throughout the day, with the Dow closing up 0.28%, the Nasdaq closing up 0.21%, and the S&P 500 index rising 0.15%.

Chicago Fed Chairman Austan Goolsbee, who is considered one of the more dovish policymakers of the Federal Reserve, stated that the Fed has done a good job in slowing inflation and that a soft landing is possible. But he is currently still determining the policy decision for September.

Goolsbee said, ‘The golden path we have been adhering to so far is definitely possible, and this will be a victory,’ referring to the ability to achieve inflation to the Federal Reserve’s goals without triggering a recession.

He stated that the data showing a slowdown in Disinflation in the United States was “excellent news.” Still, he had not yet decided whether to support suspending interest rate hikes at the next policy meeting.

The US economy has maintained resilience despite the Federal Reserve’s significant tightening of policies, prompting economists and other private sector colleagues at the Federal Reserve to remove calls for economic recession from their forecasts.

Minneapolis Federal Reserve Chairman Neel Kashkari also stated on Sunday that the Federal Reserve now believes it can guide the economy towards a so-called soft landing.