• 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

Aden Protocol: How Professional On-Chain Derivatives Trading Works

chest

Aden is a decentralized Perp DEX with an order book and deep liquidity. Learn about its architecture, trading features, economic model, and long-term outlook.

user avatarElena Ryabokon

Ranger Finance Protocol: How Perpetual and Spot Liquidity Aggregation Works on Solana

chest

Ranger Finance is a Solana-based DeFi protocol aggregating perps and spot liquidity. Learn about its architecture, products, economic model, and growth outlook.

user avatarElena Ryabokon

HyEna Protocol: How Yield-Driven Perpetual Trading Works in DeFi

chest

HyEna is a Perps DEX built on Hyperliquid with yield-bearing USDe margin. Explore its architecture, economic model, trading features, and long-term outlook.

user avatarElena Ryabokon

StandX Protocol Explained — A DeFi Platform for Perpetual Trading and Yield-Bearing Margin

chest

StandX is a DeFi platform for perpetual derivatives trading with yield-bearing margin and a native stablecoin, DUSD. Learn how its architecture, economics, and ecosystem work.

user avatarElena Ryabokon

Variational Protocol Explained — Building On-Chain Derivatives Infrastructure for DeFi

chest

Variational is an infrastructure-level DeFi protocol for on-chain derivatives. Learn about its architecture, risk model, core mechanics, and long-term potential.

user avatarElena Ryabokon

Xverse Wallet Explained — How Bitcoin Web3 Works with Ordinals, BRC-20, and dApps

chest

Xverse is a non-custodial Web3 wallet for Bitcoin, Ordinals, and Stacks. Learn about its features, architecture, Sats Connect integration, and 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.