Curve Finance, one of the largest platforms for Stablecoin lending, was hit by hackers who compromised their X account this week. The hackers uploaded false announces of CRV Token AirDrops in an attempt to attract users to a fraud. Curve Finance founder Michael Egorov immediately announced everyone that the social media account alone was hacked.
Hackers promoting fake AirDrops via official account
The then-erased post asked Curve users to register before a Sunday picture to be eligible for an alleged token-Airdrop. Although the hackers quickly attached a link to the official location of the curve, Egorov warned followers against clicking on all the links published from the account until his team took back the control. Crypto Community member Credibull Crypto posted these precautionary messages and warned users not to provide personal information.
Confirmed: Curve X account hacked. No other account seems hacked – the control of the X account was only silent by someone
– Michael Egorov (@newmichwill) May 5, 2025
Social media Side X requires disclosure of the disclosure of advertising material, but fraud continues to focus on popular cryptoms and figures. A similar case occurred last month when Ripple’s technology manager David Schwartz reported suspicious activity on John Deaton’s account.
CRV -Token price after security violation
However, the hack affected the price of CRV, which lost 5% 24 hours after the news. But the volumes department did quite well, with the daily trade volume that increased by $ 35% to $ 124 million.
A market analyst recently predicted that CRV can hit $ 3, based on Haussearted technical characters. This also follows when large quantities of the founder’s own symbols were sold by him. Egorov has sold over 3 million CRV symbols worth $ 1.60 million since March 24. He then sold almost 2 million CRV on March 26.
Curve Finance: User number and trading volume at all time high
Despite Social Media Security Glitch, Curve Finance has registered significant growth in 2025. During the first quarter, the platform registered $ 35 billion in commerce volumes, which corresponds to an increase of 13% from last year’s first quarter.
Statistics from Defilama indicate that platform transactions rose from approximately 1.8 million to 5.5 million during the first quarter of the year. This triple indicates that more users are taking curve financing for their crypto trading and lending.
The platform bounces back from last year’s attack
The current situation marks a sharp contrast from 2023, when curve financing suffered a much more serious hack that affected the actual platform. That event dramatically pushed prices.
According to sources that are familiar with the matter, the hack contained only the X account, without any impact on the platform’s technical infrastructure or user funds.
Image from Unsplash, charts from TradingView
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