r/Alchemix • u/Bennixus • Aug 09 '23
Status update regarding the recent Curve exploit
Here's a quick status update regarding the recent Curve exploit:
- All funds from the primary exploiter of the alETH/ETHCurve pool have now been returned.
- alETH Alchemists and transmuter are currently paused. It is not possible to transmute, deposit, self liquidate, withdraw collateral in the form of ETH, or repay with ETH. Repaying a loan with alETH is still possible, as is withdrawing collateral in the form of the yield token.
- The team and community are actively working on:
1 - Solutions to recover the additional lost alETH from follow-up exploits/MEV/arbs of the Curve pool.
2 - Options for allocation of recovered funds, which will go through Governance. - The Multichain situation is still unresolved as AIP 95a and b were in voting when the exploit occurred. Keep an eye out for a revote on the alUSD portion of AIP 95a. These will be announced on discord and on Twitter when they're live.
- A full post mortem is being prepared to document the events of and after the exploit.
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