The recent hack of decentralized finance protocol Curve Finance has had negative implications for multiple blockchains in the Web3.0 ecosystem, with Ethereum being one of the most affected. The total value locked (TVL) on Ethereum's Layer 1 network has dropped by almost 8% since the Curve attack went mainstream.

This decline amounts to approximately $3.55 billion, with Curve's TVL on ETH comprising a significant portion of the decrease. While the exploit of Curve Finance is a major setback for the DeFi protocol community, it is not a major challenge for Ethereum itself, as other protocols can fill in the gap and help boost the liquidity of Ethereum.