CRV Hack, SEC Sues Heart, and Binance Fraud
Crypto news: We bring you a roundup of whats been happening in crypto this week. The US Securities and Exchange Commission (SEC) sued PulseChain founder Richard Heart in a lawsuit the industry had long expected was coming. Meanwhile, the world of decentralized finance (DeFi) was “all shook up” by exploits stealing over $50 million from exchanges. At the same time, Ripples XRP Ledger achieved a strong uptake after a favorable legal ruling in July. Other stories making headlines include the downgrading of US credit to AA+ by ratings agency Fitch and rumors of new US fraud charges against Binance. Curve Finance Exploit Starts Gloomy Week for DeFi The $50 million-plus exploit of DeFi pillar Curve Finance on Sunday shook the confidence of investors who regarded the exchange as one of the most secure in the industry. The exploiter milked a bug in the compiler for the Vyper programming language to steal whats believed to be up to $70 million from various Curve liquidity pools. Crypto risk firm Gauntlet estimated the hacker stole the funds in CRV and another ETH-based token. Curve (CRV) price tanks after exploit | Source: Bloomberg While not “big” by DeFi standards, the hack nevertheless sapped the confidence of users depending on the protocol









