on the entire DeFi ecosystem as liquidity providers scampered to remove their funds from DeFi protocol.As the price of CRV fell in the days following the hack, concerns grew that Michael Egorov’s collateral would fall below the liquidation threshold, leading to contagion.
for the hackers on 3 August. According to the message, these protocols offered a 10% bounty on the stolen funds if the remaining 90% were returned.“If you choose not to partake in the voluntary return and complete the process by 6 August at 0800 UTC, we will expand the bounty to the public and offer the full 10% to the person who is able to identify you in a way that leads to your conviction in the courts.”a total of 4,820 alETH and 2,258 ETH to Alchemix Finance.
The remaining alETH was returned in two batches, worth $1.7 million and $6.7 million, respectively. ETH was returned in a single transaction worth $4.2 million. The total value of the returned funds so far is around $12.7 million.“I saw some ridiculous views, so i want to clarify that I’m refunding you not because you can find me, it’s because I don’t want to ruin your project, maybe it’s a lot of money for a lot of people, but not for me, I’m smarter than all of you.
Key momentum indicators trended downward and were positioned below their respective neutral regions. This suggested that there was not enough accumulation to support the price growth. Hence, a downward correction was imminent.