Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Velocore: New vulnerabilities have been discovered and white hat actions have been carried out. Affected LPs can claim funds based on snapshots

Velocore: New vulnerabilities have been discovered and white hat actions have been carried out. Affected LPs can claim funds based on snapshots

Odaily2024/06/28 09:43
By:Odaily
Odaily News Velocore posted on the X platform that due to the recent vulnerability exploitation incident, they disabled most functions to prevent further losses, leaving only the withdrawal function. The front-end exchange was unable to correct the imbalance between the stable pool and the de-anchored pool through arbitrage, resulting in additional losses for LPs. Another vulnerability that could lead to asset theft was found on the Linea chain, and a white hat operation was conducted to safely deposit assets into an independent Safe vault. Affected LPs can claim funds based on block snapshots. The Telos chain was not attacked and was patched without waiting for a time lock. Assets will be returned to the owner 1:1, regardless of overall LP compensation. The team is taking snapshots and updating the claims function. Regarding compensation for LP victims, a community vote will be held to decide whether to restart or liquidate, and all remaining assets will be integrated into a single vault for collective decision-making.
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Traders Rush to Unstaked for 2,700% ROI Opportunity! DOGE & HBAR News Signals Uncertainty

Find out why recent HBAR news signals price uncertainty, while Dogecoin flirts with bullish momentum. Plus, get the full scoop on Unstaked’s AI agents and its 27x ROI potential.HBAR News: $0.18 Resistance Level Sparks CautionDogecoin Price Recovers Strongly After Breakdown TrapUnstaked: Build AI That Works While You SleepWhich Is the Top Crypto to Buy?

Coinomedia2025/05/02 00:44
Traders Rush to Unstaked for 2,700% ROI Opportunity! DOGE & HBAR News Signals Uncertainty