Curve: A Systemic Issue for DeFi

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The total sum of all of the assets stolen by this exploit, by this exploit is about $70 million. Some White Hat MEV bots have returned some capital to some pools. One cycle will be that 3.2 billion down to 1.7 billion. The hacker has gotten his stolen assets stolen from them. And so we'll probably watch some of that TVL return.

A special mid-week episode is in order as we discus the string of events that led to one of the largest risks DeFi has faced in a long time. What happened to Curve, what's at risk, and what can we learn from all of this?

*CORRECTION: The address that exploited the CRV/ETH pool controls .082% of the circulating supply, not the 8% accidentally mentioned in this segment. ------ 🚀Join Ryan & David at Permissionless II in September. https://bankless.cc/GoToPermissionless

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0:00 Intro 7:23 EVM Exploit Explained 13:21 MEV Bot Sidequest 18:21 CRV Contagion 23:43 CORRECTION: SEE SHOWNOTES* 31:43 The OTC Bailout 35:43 Buying Mansions On Leverage 41:43 Second Order Risks 47:43 Who is to Blame? 53:43 Are we in the Clear? 56:43 Lessons Learned 1:01:43 Risks and Disclaimers ------ RESOURCES

DeFi's Contagion Curveball https://www.bankless.com/defi-contagion-curveball

------ Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

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