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.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other articles

Re Protocol — Tokenized Reinsurance, Yield, and RWA Infrastructure

chest

Explore Re Protocol: how RWA insurance works on-chain, reUSD and reUSDe structure, reinsurance yield, liquidity, infrastructure, and key risks.

user avatarElena Ryabokon

Credbull — Tokenized Private Credit, Yield, and RWA Infrastructure

chest

Explore Credbull Finance: how private credit RWA works, yield generation, Centrifuge and Plume integrations, on-chain infrastructure, and key risks.

user avatarElena Ryabokon

Agora AUSD — Collateral, Regulation, and Institutional Digital Dollar Use Cases

chest

Explore Agora AUSD: institutional stablecoin structure, reserves, collateral, VanEck and State Street roles, regulation, use cases, infrastructure, and key risks.

user avatarElena Ryabokon

USYC by Hashnote — Yield, USDC, RWA, and Institutional Liquidity

chest

Explore Hashnote USYC: tokenized fund structure, yield generation, the role of USDC and Circle, institutional use cases, liquidity, and key risks.

user avatarElena Ryabokon

Pixels Countryside — Farming, NFT Land, PIXEL Token, and Ronin Ecosystem

chest

Explore Pixels: Countryside Update — farming, resources, NFT Land, PIXEL token, game economy, Web3 mechanics, Ronin integration, and key project risks.

user avatarElena Ryabokon

Realm Defender — Strategy, GameFi, NFTs, and Web3 Gaming Economy

chest

Explore Realm Defender: gameplay, kingdom development, GameFi and Web3 mechanics, NFT and token status, blockchain integration, and key project risks.

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.