CRV Token Drops 7% Following DNS Exploit at Curve Finance
Curve Finance is facing a DNS-level exploit that has impacted its users and led to a nearly 7% drop in the price of its native token, CRV, which is currently trading at $0.7303. The token is testing the 20-day Exponential Moving Average (EMA) at $0.7074.
DNS Compromise Details
- Late Monday, Curve Finance reported a critical security breach involving its domain curve[.]fi.
- The DNS records were manipulated, redirecting users to a malicious site imitating Curve's interface.
- No internal systems or smart contracts were breached; user funds remain safe.
- This incident highlights increasing infrastructure-targeted attacks in the crypto industry.
- The current attack echoes a previous DNS hijack in 2023, resulting in over $500,000 in losses.
Technical Analysis
- CRV has pulled back from the upper Bollinger Band ($0.8018) and is testing the middle band around $0.7080.
- A breakdown could lead to support levels near $0.6141.
- The MACD Indicator shows a neutral crossover; a negative tilt could increase downward momentum.
- If CRV drops below $0.7080, it may test $0.61–$0.62.
- If it reclaims $0.75 with volume confirmation, the next resistance is at $0.80–$0.81.