As the repercussions of the hack attack on decentralized exchange Curve Finance continue to reverberate, MakerDAO co-founder Rune Christensen argues that what happened to the Curve protocol may mark the final collapse before the start of the bull season.

In a Twitter post, Christensen said that the current situation is, at first glance, an “end moment”. but in the context of the market cycle, it could be similar to the historic event known as “Black Thursday”. Christensen said, “Curve is being hacked. The ecosystem is at risk of bad debt and liquidation. This may seem like the end, but maybe this is just a Black Thursday cycle, the last crash before the bull market, when everything comes back 100 times stronger.”

DeFi protocol Curve Finance was rocked by a cyber attack on several of its liquidity pools due to a bug in smart contracts using versions of the Vyper coding language. As a result of the re-entrancy vulnerability, attackers used Vyper contracts to drain several stablecoin pools and obtain $24 million.

Some prominent figures in the blockchain space took to Twitter to describe the long-term effects of this vulnerability.

“A terrible misfortune”

Stani Kulechov, founder and CEO of Aave, also commented on what happened to Curve on Twitter.

Kulechov stated that the events of the previous day were a terrible misfortune for Curve and the DeFi industry. Praising the team at Curve, he said, “Curve’s team is one of the best in this space and that’s why I expect them to succeed in the end.”