The Curve Finance hack has been a major news article within the crypto community over the past weeks after a DNS attack left over $570 Thousand missing from the platform and its users.
It was recently revealed that 83% of these stolen finances have been recovered, with further efforts set to recover the remaining tokens and discover the identity of the hacker being pursued by Binance (BNB).
Still, this incident has left many shaken in their trust in Curve Finance, and in the overall crypto market. If exchanges as big as Curve Finance can be hacked, is any large crypto project truly safe?
With this in mind, there is a legitimate possibility that some may now seek alternative platforms to engage with crypto outside of Binance (BNB) and Curve Finance. One such possibility is HUH Token (HUH), with some articles already speculating on this potential.
But what exactly happened in the Curve Finance hack, and how is Binance (BNB) connected? And why might these hack lead some to seek out new projects like HUH Token (HUH)?
The Curve Finance Hack, Explained
Curve Finance is a crypto DeFi exchange with one of the biggest current market shares, with a reported $6 Billion in locked value as of the writing of this article.
Experts have blamed the lack of security on the fact that the platform employed GoDaddy as its DNS provider; a susceptible platform that Binance’s (BNB) Changpeng Zhao claims ‘No Web3 project should use’.
The funds were able to be retrieved by Binance (BNB) after the hacker is alleged to have attempted to send the stolen funds through the Binance (BNB) exchange, which the platform was able to detect and freeze in the hopes of returning the stolen funds.
Despite this incredible work from Binance (BNB), it is understandable why this incident may have shaken some crypto users. Curve Finance has since stated that its platform is now safe for use, after the DNS settings had been propagated to account for the safety weaknesses, but will this be enough?
This story is still ongoing, so be sure to stay tuned as the situation develops.
HUH Token (HUH) Provides An Alternative
With the Curve Finance hack causing some to question their faith in big-name crypto endeavours, some may wish to try out an alternative. HUH Token (HUH) is one such example of this,
HUH Token (HUH) is the native token of the HUH network, which is an independent blockchain playing host to a variety of services including a HUH Wallet, HUH Exchange, and NFT marketplace. The platform uses the renowned Proof-of-Stake system in its block validation, making for a blockchain with quick and affordable transactions all while remaining environmentally conscious.
The wide range of choice within the network have allowed some to draw a comparison between HUH Token (HUH) and Binance (BNB), as the latter also features a host of services on their network designed to maximise the potential of the token and give financial independence to users.
HUH Token (HUH) can also be compared to Binance (BNB) in their use of celebrities to promote the potential of their products. In a recent move that saw 10,000 social media influencers posting about HUH Token (HUH) in an attempted roadblock, the project has been able to reach more crypto users than ever before, with plans only expected to further this.
Stay posted for their next roadblock in December, which will utilise 50,000 influencers. You will not want to miss it.
Want to know more about HUH Token (HUH)? Check out this article.
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