Curve DAO Token (CRV)

$CRV is looking pretty promising here! It flipped resistance into support and now also turned the structure bullish. If it holds above that grey box, it should be good to go! https://t.co/MIYDDrnZ7C

Curve Founder Calls for Industry-Wide DeFi Security Standards Curve founder Michael Egorov calls for industry-wide DeFi security standards to address recent preventable hacks caused by centralized single points of failure. Citing the Aave and rsETH incidents, he urged projects, auditors, and risk teams to share best practices, suggesting the Ethereum and Solana Foundations should take the lead in establishing these safety guidelines. https://t.co/HGgzqSVYu4

Wu reports that Curve founder Michael Egorov posted that recently many avoidable security incidents in DeFi stem from centralized single points of failure, which are harming the entire industry. He cited the Aave and rsETH incidents as examples, saying that related issues should be prevented before they occur rather than remedied afterward. He calls for the industry to jointly develop DeFi security standards to reduce single points of failure and for project teams, audit firms, and risk assessment teams to share best practices; he also suggests that the Ethereum Foundation and Solana Foundation coordinate ecosystem participants to formulate security principles and rules. https://t.co/Ch4QKi2Gg8

Oh wow. I swear, I did not know what is to happen in a couple of weeks after this was recorded! https://t.co/Pc8UcmvQRP

this many protocols on the same setup didn’t happen by accident Imo 👀 over 40% of the ecosystem running the same configuration and somehow it’s being framed like isolated builder mistakes? @LayerZero_Core had full visibility into this cases like @KelpDao didn’t come out of nowhere when everything pauses together, calling it an app-level issue just doesn’t hold This is systemic!

Okay so as I was shitting on CRV’s history, Kelp was exploited for $292m signaling an even worse ripple into Aave then CRV did. Now Justin Sun is again trying to be the bail out hero. Holy timing lmao.

According to Wu, Curve Finance stated that due to an attack on the LayerZero infrastructure related to rsETH, it has proactively suspended its LayerZero cross-chain functionality until the cause is identified; the current impact includes CRV cross-chain bridges from chains such as bnb, sonic, avalanche, fantom, etherlink, kava, as well as the fast cross-chain function of crvUSD (L2 slow cross-chain remains usable), while other chains using native bridges are unaffected. https://t.co/vrfo1RyV9y

Curve, cross-chain function temporarily halted by LayerZero due to rsETH-related issue https://t.co/H3eFjjM8QE https://t.co/vXafDbCeqM

$crv Crazy you still get to buy in here. Unless they’re slow rugging, this is where I initially bought and we’re sooo close t everything crankin. https://t.co/WNbbrsdZgr

I see this $CRV token shilled by many CX influencers for the longest time. Not sure why - if it's simply for TA reasons that is fine. But fundamentally Curve Finance is fraudulent garbage that is basically a "decentralized" version of FTX. Curve founder Michael Egorov fell into $110M in debt using CRV as collateral across multiple lending protocols, nearly causing a DeFi death spiral (SBF did this with FTT) - then bailed out by Justin Sun and other crypto mafia actors in the space like Jeffrey Huang. LPs earn more from token incentives than actual trading fees, just straight ponzinomics. So much for a "decentralized lending protocol". Token is down -98% from its ATHs and these poor gullible newbies keep questioning why...