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

Blast Royale Explained: Gameplay, NOOB Token, NFTs, Base and Web3 Gaming Ecosystem

chest

Explore Blast Royale, its Battle Royale gameplay, NOOB token, NFTs, blockchain infrastructure, Web3 economy, ecosystem development and project evolution.

user avatarElena Ryabokon

Nekoverse and City of Greed — Gameplay, Land NFTs, ASG, Beam and Web3 Economy

chest

Explore Nekoverse and City of Greed: gameplay, Land NFTs, ASG token, BEAM rewards, Web3 economy, blockchain infrastructure and the project's development.

user avatarElena Ryabokon

Rumble Racing Star Review — Gameplay, NFT Integration, Arbitrum and Web3 Features

chest

Explore Rumble Racing Star, the Web3 racing game by Delabs Games featuring lawnmower races, NFT integrations, Arbitrum, Star Garage and digital rewards.

user avatarElena Ryabokon

Verse8 Explained: AI Game Creation, UGC Ecosystem and Developer Tools

chest

Explore Verse8, an AI-native UGC platform for game creation, multiplayer experiences, VXShop monetization, Story integration, Web3 IP and creator tools.

user avatarElena Ryabokon

Securitize Markets Explained: Digital Securities, Tokenized Funds and Blockchain Infrastructure

chest

Explore Securitize Markets, its RWA tokenization infrastructure, BlackRock BUIDL, digital securities, ATS trading and the role of blockchain in institutional finance.

user avatarElena Ryabokon

Swarm Markets Explained: How Tokenized Stocks and Regulated RWA Infrastructure Work

chest

Explore Swarm Markets, its tokenized stocks and bond ETFs, RWA backing, SwarmX, SMT, self-custody, DeFi integrations and regulated European infrastructure.

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.