**News Flash: Convergence Protocol Hacked, $210M in Tokens Stolen**

Decentralized finance protocol Convergence has confirmed a major hack on August 1. A hacker exploited a flaw in the CvxRewardDistributor contract, minting and selling 58 million CVG tokens worth around $210,000. Additionally, $2,000 in unclaimed staking rewards were stolen.

**Key Points:**

- The attack occurred at 3:00 am UTC, according to Etherscan.

- The hacker swapped the stolen tokens into 60 wrapped-Ether and 15,900 Curve.fi FRAX.

- The CVG token's value plummeted nearly 100%, now trading at $0.0004 with a market cap of $57,000.

- Convergence admitted the exploit happened due to a removed line of code in their smart contract.

- User funds are reportedly safe, but users are advised to withdraw assets.

- The total value locked on Convergence dropped from $5.79 million to $3.69 million.

Stay tuned for further updates on the protocol's future plans.