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


by CoinEdition
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.”

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 the article at CoinEdition

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Binance Joins Tron & Tether’s “T3” Task Force After It Freezes $250M in Illicit Crypto

Binance Joins Tron & Tether’s “T3” Task Force After It Freezes $250M in Illicit Crypto

A joint initiative between Tron, Tether, and blockchain analytics firm TRM Labs has f...
India’s Central Bank Endorses Enterprise Blockchain Use in Supply Chain Finance

India’s Central Bank Endorses Enterprise Blockchain Use in Supply Chain Finance

RBI approves IBDIC’s blockchain-based MSME financing tool. It tokenizes invoices to...

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


by CoinEdition
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.”

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 the article at CoinEdition

Read More

Binance Joins Tron & Tether’s “T3” Task Force After It Freezes $250M in Illicit Crypto

Binance Joins Tron & Tether’s “T3” Task Force After It Freezes $250M in Illicit Crypto

A joint initiative between Tron, Tether, and blockchain analytics firm TRM Labs has f...
India’s Central Bank Endorses Enterprise Blockchain Use in Supply Chain Finance

India’s Central Bank Endorses Enterprise Blockchain Use in Supply Chain Finance

RBI approves IBDIC’s blockchain-based MSME financing tool. It tokenizes invoices to...