Curve Finance, one of many largest stablecoin lending platforms, was hit by hackers who compromised its X account this week. The hackers uploaded pretend bulletins of CRV token airdrops in an try to entice customers right into a rip-off. Curve Finance founder Michael Egorov promptly notified everybody that the social media account alone was hacked.
Hackers Promote Fake Airdrops Via Official Account
The since-deleted put up requested Curve customers to enroll previous to a Sunday snapshot to be eligible for a purported token airdrop. Although the hackers astutely connected a hyperlink to the official website of Curve, Egorov cautioned followers in opposition to clicking on any hyperlinks posted from the account till his workforce took again management. Crypto neighborhood member CrediBULL Crypto seconded these cautionary notices, warning customers to not present private particulars.
Confirmed: Curve X account hacked. No different account seems to be hacked – the management over X account was simply silently taken by somebody
— Michael Egorov (@newmichwill) May 5, 2025
Social media website X calls for disclosure statements for promoting materials, however fraudsters persist in focusing on fashionable crypto manufacturers and figures. An analogous case occurred final month when Ripple’s Chief Technology Officer David Schwartz reported suspicious exercise on John Deaton’s account.
CRV Token Price Down After Security Breach
The hack, although, did affect the value of CRV, which misplaced 5% 24 hours following the information. But the volumes division did fairly effectively, with day by day buying and selling quantity rising 35% to $124 million.
A market analyst lately forecast that CRV can hit $3, based mostly on bullish technical indicators. This follows at the same time as massive quantities of the Curve founder’s personal tokens had been being sold by him. Egorov has bought over 3 million CRV tokens value $1.60 million since March 24. He then additionally bought virtually 2 million CRV on March 26.
Curve Finance: User Numbers And Trading Volume At All-Time High
In spite of the social media safety glitch, Curve Finance has recorded important progress in 2025. In the primary quarter, the platform recorded $35 billion value of buying and selling volumes, representing a 13% rise from final 12 months’s first quarter.
Statistics from DeFiLama point out that platform transactions rose from round 1.8 million to five.5 million within the first quarter of the 12 months. This tripling signifies extra customers are resorting to Curve Finance for his or her crypto buying and selling and lending.
Platform Bounces Back From Last Year’s Attack
The present state of affairs marks a stark distinction from 2023, when Curve Finance suffered a way more critical hack that affected the precise platform. That incident drove costs down dramatically.
According to sources acquainted with the matter, the hack was contained to only the X account, with no affect on the platform’s technical infrastructure or person funds.
Featured picture from Unsplash, chart from TradingView
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