🚨 URGENT: Convergence Protocol Hacked! 🚨

Decentralized finance protocol Convergence faced a severe exploit on Thursday, causing its token's price to plummet to near-zero. The attacker minted 58 million CVG tokens using a vulnerability in the code and swapped them for 60 wrapped ether (wETH) and 15,900 crvFRAX stablecoins via Curve liquidity pools, according to QuillAudits.

- The attack led to a $210,000 loss.

- CVG holders saw the token's FDV drop from $17 million to almost nothing.

- Convergence advises users to avoid interacting with the protocol.

What are your thoughts on this incident? Share in the comments! 💬