Why did CRV soar 600% on bithumb and upbit

Curve Finance’s token, CRV, is trading at a premium on South Korean crypto exchanges Bithumb and Upbit.

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CRV’s price drops by 12% within 24 hours

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More than $50million has been drained from the DEX platform due to an exploit

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The exploit was from a Vyper compiler issue

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These losses occurred due to an exploit on the liquidity pools of curve finance. There were some bugs in the smart contracts that use versions of the Vyper programming language.

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A zero-day vulnerability in specific computer versions for Vyper enabled the thefts. The vulnerability was the re-entrancy bug which allows hackers to deceive a smart contract by making repeated calls to a protocol to embezzle its assets.

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