Curve Finance, a leading stablecoin lending platform, recently found itself the target of hackers who compromised its X (formerly Twitter) account.
The attackers used the account to post fraudulent information about a fake airdrop for CRV tokens, hoping to lure unsuspecting users into a scam.
Hackers Use Official Account to Promote Fake Airdrops
The hackers shared a post through Curve’s official X account claiming that users needed to sign up before a Sunday snapshot to be eligible for a supposed CRV token airdrop.
The post included a link to Curve’s legitimate website, which made it appear more credible.
However, Curve’s founder, Michael Egorov, quickly alerted followers, urging them not to click on any links shared by the compromised account until it was secured.
Other members of the crypto community, including CrediBULL Crypto, echoed Egorov’s warning, advising users to refrain from sharing personal details.
Impact of the Hack on CRV Token Price
Following the hack, CRV token saw a dip in its price, dropping by 5% within 24 hours.
However, on the positive side, trading volume surged by 35%, reaching $124 million in a single day.
Currently, CRV is trading at around $0.66.
Despite this setback, market analysts remain optimistic about CRV’s future.
One analyst even predicts that the token could reach $3, based on promising technical indicators.
This comes amid the news that Egorov has been selling large amounts of his own CRV tokens.
Since March 24, he has sold over 3 million CRV tokens, valued at approximately $1.6 million.
Curve Finance Experiences Strong Growth in 2025
Despite the recent security breach, Curve Finance has seen remarkable growth this year.
In the first quarter of 2025, the platform recorded a trading volume of $35 billion, marking a 13% increase compared to the same period last year.
DeFiLama’s statistics show that Curve’s transaction volume skyrocketed, rising from about 1.8 million to 5.5 million in the first quarter.
This surge indicates that more users are turning to Curve for their crypto trading and lending needs.
Recovering from Previous Hacking Incident
While the recent hack affected only Curve’s X account and had no impact on the platform’s infrastructure or user funds, it serves as a reminder of the platform’s vulnerability to cyber attacks.
Last year, Curve Finance suffered a far more serious hack that affected its core platform, causing a significant drop in prices.
However, the team has successfully contained the current breach, ensuring that user funds remain secure.
This incident stands in stark contrast to Curve’s earlier hack in 2023, which had a much broader impact.
The latest attack appears to be more of a social media security issue than a technical one, offering some reassurance to the platform’s users and investors.
Conclusion: A Secure Future for Curve Finance?
Curve Finance’s recovery from the recent hack shows that despite occasional setbacks, the platform continues to grow and attract more users.
While the breach affected its social media presence, it did not compromise the platform’s technical integrity or user funds.
As Curve Finance continues to expand, its commitment to secure trading and lending options remains clear.