Qingmeizhubi rarely posts content about altcoins, but the Curve hack has caused a lot of controversy in the past two days, so let me briefly state my opinion.
Causes
Curve, a decentralized finance (DeFi) protocol developed using the Vyper programming language, was attacked by hackers using a Vyper vulnerability, resulting in the theft of tens of millions of dollars in digital assets.
as a result of
This caused the CRV price to drop from $0.74 to a low of $0.482, and the on-chain price even fell to $0.08 at one point.
chain
The founder of Curve has sold a total of 54.5 million CRV through OTC today, in exchange for $21.8 million in funds to repay debts, etc. DWFLabs, Sun Ge, dcfgod, Maji Da Ge, Cream Finance and other bigwigs bought CRV from the founder of Curve at a price of $0.4, with a 6-month lock-up period.
My views are as follows (note that this does not constitute investment advice):
1. Curve is the leader in stablecoin dex trading.
2. Curve is the infrastructure of DeFi.
3. The problem with Curve was caused by hackers, not a model problem or the operator stealing from the company.
4. Curve’s hacking did not fundamentally shake Curve’s position in the industry, as can be seen from the fact that big players rushed in to buy shares.
5. CRV is oversold, the market is in panic, and the opportunity to sell has been lost.
6. The market has reached the historical bottom range, and the over-the-counter transaction price of $0.4 can be considered a relatively fair cost line.
7. The huge volume of CRV daily line shows that panic selling has already come out. Those who short sell should take profits and stop shorting.
The suggestions given to CRV in the group yesterday (July 31) are as follows:
Conclusion: It is not advisable to be bearish on Curve&Crv at this position.
