metronome

ChainCatcher message, DeFi protocol MetronomeDAO released an analysis report on the Curve attack incident, stating that the recovered funds have been injected into a new Curve msETH-WETH pool, which will be fully allocated to the affected LPs as part of an effort to restore usage as much as possible.Metronome seeks to negotiate to recover the remaining funds, and the team also supports the repair work led by Vyper and Curve. Specific instructions on how to reallocate these funds will be announced soon.

ChainCatcher news, according to CoinTelegraph, three decentralized finance (DeFi) platforms including Curve, Metronome, and Alchemix have announced a joint initiative to recover funds that were recently exploited and stolen from Curve's liquidity pool. These protocols are offering a 10% bounty on the stolen funds and guarantee that there will be no further legal action or involvement from law enforcement. The three parties have provided a direct communication channel via email and urged the responsible parties to respond immediately.It is reported that the attack on Curve was caused by a critical vulnerability in a version of the Vyper programming language, raising concerns about a potential domino effect on the DeFi ecosystem.

ChainCatcher news, the DeFi protocol MetronomeDAO tweeted that the platform has successfully recovered most of the funds exploited in the Curve pool vulnerability incident and will continue to work on recovering the remaining funds.The next step for the project team is to urgently determine its recovery plan. A new msETH/WETH pool has been established, and initial liquidity has been injected, with plans to continue increasing it over the next 10 days. The recovery plan will include how LPs can secure a place in this new pool. When deploying this new msETH/WETH pool, the project team confirmed that they have been able to restore the operation of the Metronome mainnet. Users can once again manage their Metronome Synth and smart mining.

ChainCatcher message, MEV bot c0ffeebabe.eth has refunded 955 msETH (approximately 1.77 million USD) to the treasury address of the DeFi synthetic asset protocol Metronome.Previously reported, c0ffeebabe.eth refunded 2879 ETH (approximately 5.4 million USD) to the Curve.fi: Deloyer address.

ChainCatcher news, the DeFi synthetic asset protocol Metronome tweeted that, as a precautionary measure, it has suspended Metronome mainnet functionality to control the situation and minimize damage while investigating the best course of action moving forward.Metronome stated that a vulnerability involving multiple Curve pools has been exploited, and the msETH-ETH pool has also been attacked, with the attacker stealing all liquidity from the msETH-ETH pool. Any liquidity providers for msUSD trading pairs and Optimism users using msETH on Velodrome should note that their positions are unaffected. Additionally, all deposits and open positions in Metronome are not impacted by this incident.