The CRV rate fell below $0.4 amid the transfer of tokens to Binance
Date: 2023-09-15 Author: Karina Ziganova Categories: BLOCKCHAIN
The owner of 2.5 million CRV (address 0xb0b8) transferred 609,000 CRV to the platform, according to PeckShield.
Egorov reduced his stake in DEX in a series of transactions in August to reduce the risk of debt liquidation in DeFi protocols.
To date, the founder of Curve has sold a total of 157.6 million CRV worth $47.4 million. His aggregated debt on a number of crypto lending services is about $107.1 million.
It was assumed that buyers would not sell the CRV for six months.
Considering the current price, they were left with an undervalued loss.
After several hours, the tokens were withdrawn from Binance. Against this background, the CRV price returned to $0.4. The value of the asset jumped by 2.5% over the past 24 hours. The data is provided by CoinGecko.
On July 30, a hacker hacked the Curve Finance liquidity pool system and withdrew more than $50 million. He used a vulnerability in the Vyper software as an attack.
Soon after the incident, the founder of the DeFi protocol, Mikhail Egorov, began actively selling CRV tokens on the over-the-counter market. According to media reports, well-known crypto activists and Tron co-founder Justin Sun were among the buyers. Funds in the amount of $5 million were allocated by Binance.
