• 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

2 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

HANDL Explained: How This DeFi Infrastructure Platform Manages Digital Assets

chest

A detailed analysis of the HANDL project: DeFi infrastructure concept, platform ecosystem, HANDL token model, technical architecture, and long-term development potential.

user avatarElena Ryabokon

AntDrop Explained: How the Web3 Mission-Based Airdrop Platform Works

chest

A detailed overview of the AntDrop project: Web3 platform concept, mission-based ecosystem, ANT token utility, technical infrastructure, and future development prospects.

user avatarElena Ryabokon

Planet IX Explained: How This Web3 Strategy Game Uses NFT Land and the IXT Token

chest

An in-depth overview of Planet IX, a Web3 strategy game built on NFT land ownership. Learn about gameplay, IXT token economy, risks, and long-term potential.

user avatarElena Ryabokon

Clean Sheets Explained: How This Blockchain Football Mini-Game Works

chest

An in-depth overview of Clean Sheets, a hyper-casual Web3 football game by Ballies. Gameplay mechanics, economy, leaderboards, rewards, risks, and future potential.

user avatarElena Ryabokon

Gem Fighter Explained: How This Web3 Shooter Combines Skill, NFTs, and Crypto Rewards

chest

A detailed overview of Gem Fighter, a Play-to-Earn blockchain shooter with NFTs and the HODL token. Learn about gameplay, economy, rewards, risks, and future potential.

user avatarElena Ryabokon

Somate — A Web3 Ecosystem for Creators, AI Content, and Decentralized Monetization

chest

An in-depth overview of Somate, a Web3 platform for creators and AI content. Learn about the SOMT token, tokenomics, use cases, risks, and project outlook.

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.