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

Polkadot Launches Polkadot Ledger Application to Enhance Ecosystem Interoperability

Cointime2024/07/03 13:49

Metaverse developer Playbux launches L1 gaming chain

Cointime2024/07/03 13:49

Celer and Oasys cooperate to support the bridging USDC standard. The symbol of the bridge asset token is USDC.e

Odaily2024/07/03 13:24

Polkadot Launches New Polkadot Ledger Application

Odaily2024/07/03 13:24

‌Spot copy trading

More
AIOnline
AIOnline
insight1000/1000
9937.51%
ROI
Total profit $50681.28
WhaleGo_YouTube
WhaleGo_YouTube
insight500/500
1323.16%
ROI
Total profit $3841.97

Bot copy trading

More
GoldenEgg
GoldenEgg
insight142/150
$8535.66
Total profit
Total subscriber profits $-284.87
BGUSER-FFF8CNJ4
BGUSER-FFF8CNJ4
insight8/150
$4174.08
Total profit
Total subscriber profits $-79.9