DeFi Protocol Convergence hit by major hack, CVG token collapses

Decentralized governance hedge fund platform Convergence exploited.
58M CVG tokens minted and swapped.
CVG token value plunged 99% from $0.12 to $0.0004 following the hack.On Thursday, the decentralized finance (DeFi) protocol Convergence experienced a severe breach, resulting in a dramatic collapse of its CVG token.
The exploit involved the creation of 58 million CVG tokens, which were then exchanged for approximately $200,000 worth of wrapped Ether (wETH) and crvFRAX stablecoin.
Hacker exploi