Paradigm research partner and head of security, Sam (@samczsun), unveiled a joint effort between auditors, security professionals, and white hat hackers aimed at providing assistance during crypto hacks.
The working solution – a telegram bot – arrives amid multi-million rescue missions for Curve Finance, one of DeFi’s largest exchanges which was recently exploited for $73.5 million in cryptocurrencies.
According to Sam, SEAL 911 allows anyone to contact a professional from a pool of veteran security experts in emergency situations. The list includes experts from MetaMask, ConsenSys, Peckshield, Polygon, Origin Protocol, Wintermute, Paradigm, and Yearn to name a few.
Over the past few days I’ve been working with a group of whitehats, auditors, and other security leaders to try and solve the hardest part of responsible disclosure: finding the right person to talk to.
– Sam (@samczsun) on Twitter.
The initiative hopes to provide vetted assistance during hacks, and potentially mitigate losses from decentralized finance protocols.
DeFi’s community remains watchful even as Curve Finance recovers almost 75% of exploited liquidity. CRV’s price dropped along with TVL on Ethereum’s DeFi scene after attackers leveraged a reentrancy vulnerability to steal millions from crypto pools on Curve’s decentralized exchange.
Over a week later, the DEX recovered $52.3 million out of $73.5 million stolen in late July/early August. CRV’s price also buoyed back to 60 cents after dropping to 49 cents following the exploit.
Curve is offering 10% of the outstanding funds – worth $1.8 million – as a bounty in return for information about the exploiter.