• 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

What Is Ostium Labs? Overview of the Web3 Protocol for RWA and Derivatives Trading

chest

A detailed overview of Ostium Labs, a Web3 protocol for on-chain trading of real-world assets. Architecture, features, economic model, risks, and future outlook.

user avatarElena Ryabokon

What Is Parsec? Overview of the Web3 Platform for On-Chain and DeFi Analysis

chest

A detailed overview of Parsec, a Web3 platform for real-time on-chain analytics. Features, architecture, use cases, advantages, and future development.

user avatarElena Ryabokon

What Is Membrane Labs? Overview of the DeFi Protocol, Architecture, and Economic Model

chest

A detailed overview of Membrane Labs, a Web3 DeFi protocol. Architecture, economic model, stablecoins, collateral mechanisms, risks, and future development.

user avatarElena Ryabokon

What Is TonHashers? How the TON-Based Blockchain Game Works in Telegram

chest

A detailed overview of TonHashers, a blockchain game on Telegram built on TON. Gameplay mechanics, in-game economy, assets, risks, and future development prospects.

user avatarElena Ryabokon

Night Crows Explained: How a AAA-Style MMORPG Integrates Blockchain and Web3

chest

An in-depth overview of Night Crows, a blockchain MMORPG built on Unreal Engine 5, featuring massive PvP battles, a global economy, and Web3 integration.

user avatarElena Ryabokon

Neos Metaverse is a digital space for collaborative creativity

chest

In the digital age, Neos Metaverse offers an innovative approach to virtual interaction. This project creates an interactive ecosystem where users come together for real-time creativity and communication.

user avatarMax Nevskyi

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.