• 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.

chest
chest
chest

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other articles

LOL Land (YGG Play): How the Browser-Based Web3 Game, NFTs, $LOL, $YGG, and Abstract Work

chest

Learn what LOL Land is, how the browser-based Web3 game works, the role of NFTs, $LOL and $YGG tokens, and how the Abstract blockchain powers the gaming ecosystem.

user avatarElena Ryabokon

Progmat Explained: How Japan's Security Token Platform, RWA Infrastructure, and Avalanche Integration Work

chest

Learn what Progmat is, how its tokenized securities platform works, why Avalanche is integrated, and how the project supports the development of Japan's regulated RWA market.

user avatarElena Ryabokon

Kinesis Money Explained: How KAU, KAG, Tokenized Precious Metals, and the Blockchain Platform Work

chest

Learn what Kinesis Money is, how KAU and KAG work, how tokenized gold and silver are backed by physical bullion, and what services the Kinesis blockchain ecosystem offers.

user avatarElena Ryabokon

MapleStory N (NEXPACE / Nexon): Blockchain MMORPG, NFT Economy, NXPC Token, and MapleStory Universe Explained

chest

Learn what MapleStory N is, how its blockchain economy works, the role of NXPC, NESO, NFTs, and how MapleStory Universe brings Web3 technology to the iconic MMORPG.

user avatarElena Ryabokon

Quasarchain Arena Review: Blockchain Game, Ethereum Layer 2, NFT and Web3 Gaming Platform

chest

Discover what Quasarchain Arena is, how its Layer 2 blockchain infrastructure works, and explore its Web3 gaming ecosystem, NFT integration, Ethereum compatibility, and future potential.

user avatarElena Ryabokon

Lore AI Narrative Layer Explained: How AI Is Transforming Storytelling in Web3 Games

chest

Learn what Lore is, how its AI Narrative Layer works, how it enables dynamic storytelling, persistent NPC memory, and AI-powered gameplay in Web3 gaming ecosystems.

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.