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
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
Teen’s Memecoin Turns $462 into $1M for a Crypto Investor
Cryptodnes•2024/11/21 21:00
SEC Delays Decision on Franklin Templeton’s Bitcoin and Ethereum Index ETF
Cryptodnes•2024/11/21 21:00
Is Ethereum Poised for a Comeback? Analysts See Potential Amid Underperformance
Cryptodnes•2024/11/21 21:00
Bitcoin is inches away from cracking all-time high against gold
If gold remains steady today, a single move from bitcoin to $98,500 would do it
Blockworks•2024/11/21 20:44
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$98,124.88
+4.00%
Ethereum
ETH
$3,354.01
+8.88%
Tether USDt
USDT
$1
+0.03%
Solana
SOL
$254
+7.61%
BNB
BNB
$620.74
+1.64%
XRP
XRP
$1.17
+6.84%
Dogecoin
DOGE
$0.3830
+1.31%
USDC
USDC
$1.0000
+0.01%
Cardano
ADA
$0.7904
-1.80%
TRON
TRX
$0.1986
+1.34%
Bitget pre-market
Buy or sell coins before they are listed, including ZRC, XION, OGC, MEMEFI, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now