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news-imageJuly 25, 2023

Connext and Alchemix Introduce xERC-20 Token Standard to Mitigate Bridge Exploit Losses

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.
Publisher: Cryptopolitan
Sentiment: Neutral
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August 6, 2023

Biggest Recent Hack: Stolen Funds Returned to Alchemix

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.

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