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<p>The post <a href="https://coinpedia.org/news/twin-dexs-velodrome-and-aerodrome-suffer-front-end-security-breach/">Twin DEXs Velodrome and Aerodrome Suffer Front-End Security Breach</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The decentralized finance (DeFi) community is on high alert following a significant security breach impacting Velodrome and Aerodrome, two prominent decentralized exchanges (DEXs) operating on the Optimism and Base networks, respectively. This breach has amplified concerns about the vulnerability of these platforms.</p> 
<h2 class="wp-block-heading" id="h-security-breach-alert"><strong>Security Breach Alert</strong></h2> 
<p>Velodrome and Aerodrome have issued warnings advising users to exercise extreme caution. In light of the security breach in their front-end systems, both platforms have urged users to refrain from engaging with their services until further notice. The urgency of this advisory is underscored by the potential risks of interacting with compromised systems.</p> 
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   <p lang="en" dir="ltr">Our frontend is currently compromised. Please do not interact with Aerodrome for the time being. The team are investigating and will communicate more here when we have it.</p>— Aerodrome (@aerodromefi) <a href="https://twitter.com/aerodromefi/status/1729771968717541711?ref_src=twsrc%5Etfw">November 29, 2023</a>
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<h2 class="wp-block-heading" id="h-expert-insights-and-analysis"><strong>Expert Insights and Analysis</strong></h2> 
<p>Cybersecurity experts suspect the breach to result from a Domain Name System (DNS) attack, a method increasingly used by cybercriminals in the cryptocurrency sector. Such attacks involve redirecting users from legitimate sites to fraudulent ones controlled by the attackers. On-chain analyst ZachXBT has reported that approximately $40,000 has been siphoned off to specific addresses. Users have also reported difficulties in accessing the platforms’ websites.</p> 
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   <p lang="en" dir="ltr">Looks like stolen funds are going to these two addresses <br><br>0x02BA13f39D7df9C3F7592257b636eD6C7CC4ae78<br>0xf64fCEdFCe714Bbe835761e54D7067f2f8231443 <a href="https://t.co/mm6SUhCLhq">pic.twitter.com/mm6SUhCLhq</a></p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1729777066780815540?ref_src=twsrc%5Etfw">November 29, 2023</a>
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<h2 class="wp-block-heading" id="h-contract-safety-and-bounty-initiative"><strong>Contract Safety and Bounty Initiative</strong></h2> 
<p> Amidst the chaos, there is a silver lining: Velodrome and Aerodrome’s protocol funds and intelligent contracts remain secure and unaffected. The teams have asked users to revoke any recently granted permissions as a precautionary measure. In collaboration with ArkhamIntelligence, a bounty has been established to identify and apprehend the perpetrators, offering hope for recovering the stolen funds.</p> 
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   <p lang="en" dir="ltr">Protocol funds are safe, contracts are unaffected; please ensure you are accessing our decentralized frontend at <a href="https://t.co/7U8yRQs1Li">https://t.co/7U8yRQs1Li</a> and review any permissions granted in the last several hours. <a href="https://t.co/a7PdF9k6pC">https://t.co/a7PdF9k6pC</a></p>— Aerodrome (@aerodromefi) <a href="https://twitter.com/aerodromefi/status/1729795692577624465?ref_src=twsrc%5Etfw">November 29, 2023</a>
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<h2 class="wp-block-heading" id="h-conclusion"><strong>Conclusion</strong></h2> 
<p>This incident highlights the growing sophistication of social engineering attacks in the DeFi space, shaking user confidence in platform security. The platforms’ primary access points remain compromised despite <a href="https://twitter.com/aerodromefi/status/1730040335567335543">regaining control</a> of their domains. As the teams work diligently to restore full functionality, users eagerly anticipate a detailed report and a potential compensation strategy for those impacted.</p>

Twin DEXs Velodrome and Aerodrome Suffer Front-End Security Breach

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