Curve Finance DNS Attack Sparks CRV Token Sell-Off Amid Growing DeFi Security Concerns
Curve Finance, a leading decentralized finance (DeFi) platform, experienced a DNS-level attack that redirected users from its official site to a malicious phishing website. While the breach did not compromise Curve’s smart contracts or internal systems, user funds remained safe only for those who did not interact with the phishing site. The attack primarily affected the platform’s front-end interface. In response, Curve Finance alerted users and worked quickly to resolve the DNS issue. The incident triggered significant market volatility—CRV, Curve’s native token, tumbled over 8%, hitting a low near $0.7274 as traders rushed to reduce risk exposure. Technical indicators like the MACD and Bollinger Bands point to continued bearish sentiment; a fall below $0.7080 could lead to a further decline toward $0.61–$0.62. The event highlights the escalating threat of infrastructure attacks in DeFi, reiterating that vulnerabilities lie not only in smart contracts but also in web infrastructure. Crypto traders are closely watching for a potential CRV price recovery above $0.75, but market sentiment remains risk-off amid persistent security concerns.
Bearish
The DNS attack on Curve Finance led to a sharp sell-off in its native CRV token, with prices plunging over 8%. The breach, while limited to the website’s front-end, intensified existing concerns over DeFi security and triggered a risk-off sentiment among traders. Technical analysis indicators such as MACD and Bollinger Bands support the likelihood of continued price weakness. Although Curve’s smart contracts were unaffected and no direct fund losses were reported for cautious users, such infrastructure attacks historically result in heightened caution and downward pressure on related tokens. Short-term price action is expected to remain bearish unless CRV decisively rebounds above $0.75.