Velocore Exploitation Results in a Loss of $10 Million: Investigation Initiated
- Velocore has been reportedly hacked, resulting in a loss of about $10 million.
- The platform has initiated an investigation into the exploitation and froze stolen funds.
- However, the hacker managed to move some of the stolen ETH to the Ethereum mainnet.
Velocore, a decentralized exchange (DEX) protocol on zkSync and Linea, has reportedly been hacked, causing customers to lose almost $10 million in funds. In response to the exploitation, the Velocore team initiated an investigation into the hack, setting up an “on-chain negotiation process.”
Velocore Exploit Update
— Velocore | veDEX on zkSync Era / Linea
We've identified the exploit mechanism and are setting up an on-chain negotiation process. A post-mortem article is in the works. Tracking the exploiter with clues left behind. More updates soon.
Velocore on the Telos mainnet has not been affected, and…(@velocorexyz) June 2, 2024
The hack was initially reported by the Chinese crypto reporter Colin Wu on his Wu Blockchain page on X, following which crypto commentator MartyParty also reposted the report.
Velocare shared an “Emergency Notice�…
The post Velocore Exploitation Results in a Loss of $10 Million: Investigation Initiated appeared first on Coin Edition.
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Velocore Exploitation Results in a Loss of $10 Million: Investigation Initiated
- Velocore has been reportedly hacked, resulting in a loss of about $10 million.
- The platform has initiated an investigation into the exploitation and froze stolen funds.
- However, the hacker managed to move some of the stolen ETH to the Ethereum mainnet.
Velocore, a decentralized exchange (DEX) protocol on zkSync and Linea, has reportedly been hacked, causing customers to lose almost $10 million in funds. In response to the exploitation, the Velocore team initiated an investigation into the hack, setting up an “on-chain negotiation process.”
Velocore Exploit Update
— Velocore | veDEX on zkSync Era / Linea
We've identified the exploit mechanism and are setting up an on-chain negotiation process. A post-mortem article is in the works. Tracking the exploiter with clues left behind. More updates soon.
Velocore on the Telos mainnet has not been affected, and…
The hack was initially reported by the Chinese crypto reporter Colin Wu on his Wu Blockchain page on X, following which crypto commentator MartyParty also reposted the report.
Velocare shared an “Emergency Notice�…
The post Velocore Exploitation Results in a Loss of $10 Million: Investigation Initiated appeared first on Coin Edition.
Read More
US Reciprocal Tariffs Shrink Global Stock Market by $10 Trillion