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DeFi protocol Velvet Capital temporarily shuts down its website due to unusual activity

CointimeCointime2024/04/23 08:04
By:Cointime

Velvet Capital, a DeFi asset management protocol supported by Binance Labs, was forced to temporarily close its website due to abnormal activity to prevent major phishing attempts. Community members reported abnormal activity on the VelvetCapital trading platform on April 23, and users attempting to connect to the front end were prompted to approve their wallet's access to the protocol. An internal investigation led to VelvetCapital issuing a network security alert, advising investors to reject all wallet connection requests from the application until further notice. According to blockchain investigator ZachXBT, the attacker successfully stole approximately $40,000 worth of encrypted assets at the time.

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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.

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