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Justin Sun declares support for Curve as the exchange hits exploits



The Tron founder recently expressed his backing of Curve Finance in a tweet, offering assistance to the DeFi protocol amidst challenging times caused by a recent exploit. 

In addition, he highlighted the collaborative nature of this support, stating that it would result in the integration of the stUSDT pool on Curve. 

Describing itself as the pioneer rebase RWA protocol, stUSDT holds the top spot in the RWA TVL rankings according to data from DeFiLlama shared by Justin Sun back in July.

Following the Curve Finance exploit impacting CRV tokens, PeckShield has noted that a wallet acquired 5 million CRV tokens. The security firm, PeckShield revealed that the wallet belongs to Tron founder Justin Sun who acquired the tokens from Curve founder Michael Egorov for $2 million. The 5 million CRV valued at about $2.9 million was transacted over the counter between the two founders.

On another note, Lookonchain analysts also confirmed the finding. Moreso, on-chain data tells of a possible deal with the Curve founder to purchase CRV tokens at $0.40, which is at a lower rate than the market price.

Egorov had received USDT stablecoin from unidentified wallets, prompting concern among crypto skeptics about potential off-platform agreements or transactions.

Curve finance was attacked and several protocols exploited due to malfunctioning reentrancy and about $47 million was drained. 

Read also; 

Coinbase clarifies CEO comments on SEC investigation

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