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Over $70M Stolen From Multiple DeFi Protocols Due To Vyper Code Bug

Multiple DeFi protocols are reeling after vulnerabilities identified with the Vyper smart contract language led to hackers draining over $70M from Curve, Alchemix, and JPEG’d. Some web3 community members have recommended to users to withdraw all assets from Curve pools. On July 30, Vyper, the team behind a Python-based smart contract language compatible with EVM networks, revealed that the latest versions of its compiler did not correctly implement safeguards against reentrancy attacks. A reentrancy attack is a malicious maneuver in which an attacker repeatedly calls a function within a smart contract before its previous function call is completed.

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