Breach at Curve Finance Bolsters Coinbase's Earnings
The Curve Finance hack, which led to the theft of $73 million, inadvertently resulted in a profit of roughly $1 million for the cryptocurrency exchange, Coinbase.
This gain was rooted in a pricing anomaly: a trading bot, aiming for maximum transaction speed, relayed 570 ETH to a validator.
Interestingly, the beneficiary validator was under Coinbase's ownership.
While some debate the ethics of retaining such profits, Coinbase remains steadfast in its decision, referencing legal prerogatives.
"Coinbase has shown no willingness to return the funds, despite knowingly benefitting directly from the exploit," stated the aggrieved party, Alchemix.
Interestingly, the beneficiary validator was under Coinbase's ownership.
While some debate the ethics of retaining such profits, Coinbase remains steadfast in its decision, referencing legal prerogatives.
"Coinbase has shown no willingness to return the funds, despite knowingly benefitting directly from the exploit," stated the aggrieved party, Alchemix.
