DeFi Hack: Vee Finance Losses $35 Million To Hackers Following Mainnet Launch
One of the major threats to businesses online, not only the crypto industry, is cybercriminals’ attacks. Even though the existing networks are supposed to be safe and secure, attackers often find loopholes to exploit them in the bid to steal investors’ funds. This is not new in the online world. There have been occasions when hackers even forced companies to shut down. The decentralized finance sector has seen a lot of growth in recent times, but the growing exploitation cases are becoming alarming. Many protocols have suffered such attacks amounting to losses to the tune of millions....
Related News
Decentralized finance (defi) protocol Pickle Finance was hacked for $19.7 million of the stablecoin DAI over the weekend, as the defi industry appears to be turning into a hackers paradise. Pickle’s native token (PICKLE) plunged 62% on the news, falling from $23.27 to $8.70 when the hack was first reported on Nov. 21. At the time of writing, the token has since rebound 29% in 24 hours to $18.51, according to Coingecko data. This is the fourth hack to hit the defi space in just two weeks. Akropolis, Value Defi and Origin protocol were exploited for a combined total of $15.7 million in....
2022 is a rough year for the DeFi ecosystem as hackers continue exploiting the community. From the beginning of the year till now, news of DeFi protocol exploits keeps flooding the crypto industry. So the question is: why do hackers keep targeting decentralized finance protocols? Today’s report reveals that three DeFi protocols have suffered hack […]
Vee Finance says it suffered a $35 million attack just a few days after launching the mainnet on Avalanche last week. Decentralized finance (DeFi) platform Vee Finance reported $35 million losses in the latest exploit, just a few days after launching the mainnet on the Avalanche network.After pausing services due to suspicious activity on Sept. 20, Vee Finance confirmed that its platform was under an attack resulting in a loss of 8,804 Ether (ETH) and around 214 Bitcoin (BTC). The total amount is worth more than $35 million at the time of writing.According to the official incident....
A DeFi project that launched on Thursday had raised $60 million overnight during its token sale. However, the funds seem to have disappeared, and no one is sure exactly how. On Friday, investors woke up to the shocking news that their funds had disappeared. Around 13,556.36 ETH, which was worth $60 million at the time, was drained from AnubisDAO’s liquidity pool. Related Reading | DeFi Hack: Vee Finance Losses $35 Million To Hackers Following Mainnet Launch The project, AnubisDAO, was promoted as a fork of OlympusDAO — a cryptocurrency backed by the assets in its treasury. It was....
Hyperdex, a decentralized finance (DeFi) platform, has announced the launch of its mainnet, following months of developments, third-party audits, and upgrades. The mainnet is expected to introduce new trading strategies on the platform, giving users more opportunities to easily make returns in the DeFi ecosystem. Having gone live this Wednesday, the mainnet introduces three major […]