Hacker is now the major holder of Curve DAO’s CRV token

The hacker driving the Wintermute exploit of September 2022 is now the biggest holder of Curve DAO’s CRV, Etherscan data on April 25 shows.

Wintermute exploiter controls 28% of all CRV in circulation

As of crafting, the deal with managed by the “Wintermute Exploiter” retains 111,953,508.959916301101032331 CRV, or more than 28% of the overall source. 

CRV, the governance token of the Curve DAO, a decentralized autonomous organization (DAO) powering Curve, the decentralized exchange for stablecoins, is essential for voting.

The additional an business, unique, or entity controls the token, the far more they have sway about advancement proposals.

The Wintermute Exploiter has additional tokens than all those held in the DAI/USDC/USDT Curve DAO gauge, which stands at 59,356,921.119106859558394588 CRV, or around 15% of the whole provide. 

Curve DAO’s gauge measures the stage of liquidity a consumer supplies at any time. The far more a user provides liquidity and deposits liquidity provider tokens, the higher the gauge and, consequently, the additional incentives they obtain in CRV. Other than governance, CRV is also made use of to accumulate price over time. 

The hacking group also controls all the tokens staked through Frax Finance, a liquidity staking supplier and a competitor of Lido Finance. Tokens held by means of this facility are 93,147,299.745660205446630915 CRV, or all-around 23.3% of the complete provide. 

At this level, the possibility posed by the hacking team on the protocol’s governance and basic decentralization is stressing. The condition is even even worse, taking into consideration the top 100 wallets manage above 99% of all CRV in circulation. 

Given that the exploiter’s wallet handle is constantly staying monitored with the likelihood of the hacker remaining apprehended, the impact on CRV’s price tag could be extreme.

The Wintermute hack of Q3 2022

In September 2022, Wintermute, an algorithmic marketplace maker, was hacked for a whopping $160 million. 


The weak point was pinned to a hole in their profanity algorithm it was the next time they experienced been hacked that yr. 

Out of this hack, a massive proportion, or 73%, ended up stablecoins in DAI, USDT, and USDC really worth $114 million. The remainder were being bitcoin (BTC) and ethereum (ETH) derivatives. Stolen stablecoins have been deposited to Curve Finance, most likely to avoid remaining blacklisted. 

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Bitcoin (BTC) $ 27,192.29
Ethereum (ETH) $ 1,685.08
Tether (USDT) $ 1.00
BNB (BNB) $ 215.80
XRP (XRP) $ 0.520021
USDC (USDC) $ 1.00
Lido Staked Ether (STETH) $ 1,685.42
Solana (SOL) $ 22.79
Cardano (ADA) $ 0.260906
Dogecoin (DOGE) $ 0.062702