Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

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.

You may also like

Shiba Inu (SHIB) vs. Ethereum: Analysts Explore Potential for 40x Gains

Coinedition2024/07/01 16:58

VeChain (VET) Surges 11% in a Week: Analysts Predict Further Gains

Coinedition2024/07/01 16:58

EU crypto traders urged to convert non-compliant stablecoins to regulated ones as MiCA framework takes effect

Quick Take EU stablecoin users are urged to convert non-compliant stablecoins to regulated ones as the bloc’s MiCA regulation goes live. The new regulations prohibit stablecoins from exceeding one million daily transactions used to pay for goods or services, whether settled off-chain or on-chain.

The Block2024/07/01 16:52

Mamori raises $5 million in Blockchain Capital-led seed funding

Quick Take The web3 security firm Mamori raised $5 million in seed funding led by the venture capital firm Blockchain Capital. Mamori aims to augment web3 security by developing an algorithm that can find issues in blockchain-based software.

The Block2024/07/01 16:49

‌Spot copy trading

More
AIOnline
AIOnline
insight1000/1000
9916.91%
ROI
Total profit $50576.23
WhaleGo_YouTube
WhaleGo_YouTube
insight500/500
1321.82%
ROI
Total profit $3838.06

Bot copy trading

More
Morgee
Morgee
insight69/150
$19751.22
Total profit
Total subscriber profits $-219.74
GoldenEgg
GoldenEgg
insight141/150
$8163.06
Total profit
Total subscriber profits $-284.87