🚨 Breaking News in DeFi! 🚨 Convergence, a Curve-based yield-enhancing protocol, was exploited, sending its token CVG to near-zero. The attacker minted 58M CVG tokens using a vulnerability, swapping them for 60 wETH and 15,900 crvFRAX stablecoins on Curve. The funds were then converted to ETH and sent to Tornado Cash.

The attack caused a $210K loss, with CVG's price plummeting 99% from $0.12 to $0.0004. Convergence has urged users to avoid interacting with the protocol.

What are your thoughts on this incident? Share in the comments! #DeFi #CryptoNews