• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
DeFI project Velodrome was hacked and stopped working

DeFI project Velodrome was hacked and stopped working

user avatar

by Alexandra Smirnova

3 years ago

The Velodrome protocol has released a warning to its users about a potential vulnerability and a breach in their software interface. The company has strongly advised its clients to refrain from any actions with Velodrome until further notice.

At this moment, our user interface is compromised. We ask you to refrain from interacting with Velodrome at this time. The team is conducting an investigation and will provide additional information here as soon as it becomes available,Velodrome (@VelodromeFi) on November 29, 2023.

The details of the incident have not been disclosed by the Velodrome DeFi project team. Nonetheless, according to independent crypto analyst ZachXBT, it is suspected that the attack is related to an attempt to steal the protocol's assets, which are believed to be redirected to addresses beginning with 0x02BA1 and 0xf64fC.

Analytical company L2beat has noted that second-layer solutions like Optimism for the Ethereum blockchain are becoming more popular compared to the main network. In particular, there has been a constant increase in the total volume of transactions in the sidechain since September of the previous year.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other articles

On-Chain Crypto Analysis Guide: Understanding Blockchain Data for Smarter Investment Decisions

chest

Learn how to use on-chain analysis, track key blockchain metrics, explore leading analytics tools, and make more informed cryptocurrency investment decisions.

user avatarElena Ryabokon

What Is Blaze (YC)? Exploring Cross-Border Payments, USDC Infrastructure, and Agentic Finance

chest

Discover how Blaze (YC) uses USDC, stablecoins, virtual accounts, and AI-powered finance tools to simplify global payments and cross-border money transfers.

user avatarElena Ryabokon

Charm Finance Review: How Alpha Vaults Automate Liquidity Strategies on Uniswap V3

chest

Learn how Charm Finance and Alpha Vaults simplify liquidity management on Uniswap V3. Explore features, benefits, risks, and the project's role in the DeFi ecosystem.

user avatarElena Ryabokon

What Is Playstudios Web3? Exploring Rewarded Play, playAWARDS, Blockchain Technology, and Digital Rewards

chest

Discover how Playstudios Web3 combines rewarded play, playAWARDS, digital assets, and blockchain technology to create a unique gaming and loyalty ecosystem.

user avatarElena Ryabokon

What Is Euclid Protocol? Unified Liquidity Layer Technology, Features, and Project Outlook

chest

A detailed review of Euclid Protocol, a DeFi infrastructure project designed to unify liquidity across blockchains. Explore its architecture, features, technology, and future potential.

user avatarElena Ryabokon

What Is Veles Finance? Trading Bots, DCA Strategies, Features, and Project Outlook

chest

A detailed review of Veles Finance, an automated cryptocurrency trading platform. Explore trading bots, DCA strategies, risk management tools, key features, and the project's future potential.

user avatarElena Ryabokon

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.