The total value of assets locked on decentralized finance protocol Curve Finance (CRV) plunged nearly 50% in the last 24 hours to $1.731 billion from $3.26 billion recorded on July 30, according to DeFiLlama data.

The exodus can be attributed to an exploit of the protocol, which increased fears of liquidation and bad debt among community members who immediately withdrew their assets from the crypto project.