Why Web3 Community Protection is Integral to Curve Finance

Curve is a decentralized exchange (DEX) and automated market maker (AMM) on Ethereum and EVM-compatible sidechains/L2s, designed for the efficient trading of stablecoins and volatile assets.

With over 2 billion in TVL and a large community of llamas, Curve is regularly targeted by phishing attacks that clone their official domain and trick users into signing malicious transactions.

We sat down with the team at Curve to learn how they first identified the online threats targeting the Curve community. They explain the importance of security in the Web3 space and how working with ChainPatrol has allowed them to proactively tackle scams and phishing attempts that threaten their ecosystem. 

🛡 ChainPatrol:

When and how did the Curve team come to realize that the organization was being targeted by online threats like phishing and impersonation? 

🎙️ Curve:

Since Curve’s inception in January 2020, we have been the target of numerous scams, ddos attacks, phishing scams, impersonators, and more. We started noticing these online threats first on social media. We have a brand presence across Discord, Telegram, and X (formerly Twitter). As our audience and activity-level on those accounts grew, so did the volume of threats. We also began to notice threats emerging on the accounts associated with Michael Egorov, the founder of Curve.

🛡 ChainPatrol:

What are the main ways that these threats impact your business? 

🎙️ Curve:

These threats impact our community of users, as well as the overall reputation of Curve. Trust is paramount in the DeFi space, and so it’s really important to us that our community not be exposed or fall victim to scams that leverage our brand. 

We’ve been able to uphold an excellent reputation in Web3, and it's because of our investment in security. Maintaining a safe environment for our users is always a top priority at Curve. 

🛡 ChainPatrol:

How important is consistent protection for the Curve community? 

🎙️ Curve:

DeFi is 24/7 and 365 days a year. The threat of scams, phishing attacks, and impersonations doesn’t ever stop. Curve requires constant protection across all channels in order to keep the number of scams threatening our community as minimal as possible. 

🛡 ChainPatrol:

As your organization scales, are you finding that threats grow as well? How are your protection needs evolving?

🎙️ Curve:

We have definitely seen an increase in threats over the past year. Luckily, the increase is mostly in volume rather than in sophistication. The types of scams targeting our community are staying the same. It makes sense that the volume of threats targeting the Curve community is growing. This is expected as the size of our community grows. 

🛡 ChainPatrol:

How does leveraging a platform like ChainPatrol pass on benefits to your users and contribute positively to the reputation of Curve?

🎙️ Curve:

Working with ChainPatrol has made our commitment to security for our community a reality. ChainPatrol provides a safety net for us, and creates a barrier between most of these scams, our protocol, and our users. 

Thanks to the support of ChainPatrol, we’re able to stay on top of threats and eliminate them quickly. Real-time monitoring means we’re able to significantly reduce the likelihood that our community becomes susceptible to threats.

🛡 ChainPatrol:

How would you describe the support you’re receiving from the ChainPatrol team? 

🎙️ Curve:

Support from the ChainPatrol team has been fast, attentive, and thorough. Every time that we manually report threats, either through Telegram or the ChainPatrol platform, the ChainPatrol team is quick to take action. Your team keeps us in the loop about the process of removing the threat, and the follow-up reports provide great visibility into the number of scams being addressed and removed.

🛡 ChainPatrol:

How does the team at Curve envision a safer, more secure Web3? 

🎙️ Curve:

In an ideal world, there would be no risks for our users. We would love a Web3 ecosystem where users were safe from exploitation, scams, and from being compromised in any way. We know this is a pretty unrealistic dream, but we like to dream big. In the meantime, partnering with ChainPatrol to protect our community is the next best thing!

Are you ready to protect your brand and community? Book a ChainPatrol demo to learn how we can help.