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Cryptocurrencies are having a good weekend as Bitcoin sits at its highest level in over 18 months. Bitcoin was trading at $38,775 while Ethereum price has soared to a high of $2,102. In all, the total market cap of all digital currencies jumped to over $1.46 trillion. Many cryptocurrencies have joined the spectacular rally.
Coinbase Exchange will suspend 41 non-USD trading pairs next month, including ALCX/USDT and BIT/USD.
Alchemix, a lending platform, has reported that all the funds stolen by the Curve Finance hacker from Alchemix's alETH-ETH pool have been returned. Curve Finance had fallen victim to a major heist on the 31st of July, leading to the hacker draining around $61 million from the protocol.
Alchemix, a decentralized finance (DeFi) protocol, confirmed that all the funds stolen from the alETH-ETH pool on Curve Finance were returned by the hacker. The hacker exploited a vulnerability in the Vyper programming language and managed to steal over $61 million from various stablecoin pools on Curve Finance on July 30.
The attacker started returning stolen funds after accepting nearly $7 million in bug bounty. Funds had been returned to Alchemix and JPEGd.
A crypto wallet labeled “Alchemix/CurveFinance Exploiter” has returned funds that were stolen from Alchemex earlier in the week. The NFT staking platform JPEG'd has also seen the return of stolen assets.
The Curve Finance team confirmed contact with the Alchemix alETH pool exploiter via on-chain messages. Curve, Metronome, and Alchemix previously asked the exploiters to return 90% of the drained funds for a 10% bounty in return.
The exploit on July 30 resulted in the theft of roughly $70 million in cryptocurrencies, bringing the bounty close to $7 million.
In a bid to tackle the ongoing concerns surrounding bridge security in the decentralized finance (DeFi) space, Connext, a leading cross-chain bridging protocol, has partnered with Alchemix Finance, a prominent DeFi platform, to unveil a new token standard called “xERC-20.
The two protocols will implement a standard for issuers to control the "canonical" minting of tokens, helping to reduce losses from unofficial bridges.
Alchemix will divert a third of its yield-farming revenue into a token buyback program for ALCX in an attempt to bolster its synthetic assets.
Alchemix has had two consecutive trading sessions with over 10 percent price gains. However, the crypto is still in a longterm bear market.
