The Curio protocol has encountered a serious hacker attack, during which a vulnerable smart contract MakerDAO was exploited, resulting in financial losses of $16 million. As a result of the attack, the hacker managed to illicitly mint 1 billion CGT tokens, with a total value of approximately $39.7 million. The incident occurred against the backdrop of the Ethereum network, causing concern among cryptocurrency community participants.

The Curio team is actively addressing the issue and assures that all contracts operating on the Polkadot and Curio Chain networks are secure and have not been compromised. This incident underscores the growing security challenges in the crypto industry, where over $200 million has been stolen since the beginning of this year alone.

The situation with Curio serves as a reminder to the entire industry of the need to strengthen security measures and take a careful approach to smart contract management to prevent such incidents in the future and ensure the protection of investor assets.