Coinbase Earns $1M Following Curve Finance Hack
Main page News, Cryptocurrency Exchanges, Hacker Attack, Coinbase

Crypto exchange Coinbase has processed an Ethereum transaction following the hack of DeFi protocol Curve Finance and received around $1 million as a reward.

A hacker reportedly attacked the Curve Finance stablecoin pools on July 30 and stole around $61.7 million. The platform's asset pricing system did not work properly for some time.

A trading bot noticed a unique arbitrage opportunity and paid 570 ETH (around $1 million at the exchange rate at the time) to process the transaction.

The recipient of the bounty was Coinbase, according to analytics firm Nansen and landing protocol Alchemix, which was affected by the attack. The latter has highlighted the exchange has not reimbursed the assets even after the request.

The platform has claimed a lack of legal basis for making the refund.

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