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Image result for Curve Finance closed pool yv2 after it discovered a security vulnerability

Decentralized stablecoin exchange Curve Finance reported a vulnerability this morning affecting a new trading pool related to the Yearn Finance profit aggregation project. The mined pool quickly stopped working in case of an incident.

Curve allow users to swap between US dollar-pegged stablecoins (such as USDC, DAI, and USDT) with extremely low fees and slippage. The liquidity (the amount in Curve) is provided entirely by the users. In return, they make annual profits from the interest charged to Stablecoin borrowers from the Curve. Since its launch in 2020, so far the project has been operating stably with no major technical problems. But that record crashed today.

In addition, they automatically return the locked amount to the liquidity providers (money provider address).

All users who lock in money on Yearn (a profit aggregator) will receive back tokens branded “y” – a tokenized representation of their locked assets. For example, a user depositing USDT into Yearn will be exchanged for yUSDT, which can be further used on other protocols for profit (based on Yearn’s own strategy) or exchanged for an other electronic currencies.

Such an arrangement is known as a “vault”, with tokens “v1” and “v2” (based on two different vaulting vault and using different strategies) offered to users based on account. property they sent.

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