Ethereum

2024

Linea

Velocore

zkSync

<ul class="news-points"> 
 <li>Velocore has been reportedly hacked, resulting in a loss of about $10 million.</li> 
 <li>The platform has initiated an investigation into the exploitation and froze stolen funds.</li> 
 <li>However, the hacker managed to move some of the stolen ETH to the Ethereum mainnet.</li> 
</ul> 
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.” 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Velocore Exploit Update 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…— Velocore | veDEX on zkSync Era / Linea 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/25aa.png" alt="▪" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@velocorexyz) <a href="https://twitter.com/velocorexyz/status/1797117286270353883?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">June 2, 2024</a>
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The hack was initially<a href="https://x.com/WuBlockchain/status/1797089736827539644" target="_blank" rel="nofollow"> reported</a> by the Chinese crypto reporter Colin Wu on his Wu Blockchain page on X, following which crypto commentator<a href="https://x.com/martypartymusic/status/1797114547809157570" target="_blank" rel="nofollow"> MartyParty</a> also reposted the report. 
Velocare shared an “Emergency Notice�…
The post <a href="https://coinedition.com/velocore-faces-exploitation-loses-about-10-million-report/">Velocore Exploitation Results in a Loss of $10 Million: Investigation Initiated&nbsp;</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Velocore Exploitation Results in a Loss of $10 Million: Investigation Initiated

Coin Edition

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