Vee Finance Victim of $36 Million Hack!

Lending Protocol platform signed In Vee Finance, a victim of extensive exploitation worth 36 Millions of dollars, a week after the launch of its main network, and saw a sharp decline in the symbol in VE its digital.

The team confirmed the incident yesterday, noting that they “They are investigating the cause.”All services are temporarily suspended.

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He was Decentralized Finance (DeFi) Protocol based on Avalanche, has noticed a number of abnormal transformations in 20 September, and “After further monitoring, it was found that a total of 8804.7 ETH and 213.93 BTC were attacked.”.

This amount is worth Ethereum Currently, about 27 million US dollars, with a value of Bitcoin 9 Millions of US dollars, making the total reported loss about 36 US$1 million, which is currently held by the title in question.

The team also added that the stable coin division was not affected by the attack.

The report states that “The suspected attacker, had launched the attack through the above address, and collected the stolen assets at that address.”.

According to the report, the attacker has not yet transferred or processed the stolen funds, while the team is working “To further clarify the incident, he will continue to attempt to contact the attacker to recover the assets.”.

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In addition to the services being paused, the team has moved to suspend the deposit and borrow functionality.

has been traded in VE price 0.10 US dollars per hour 7:48 UTC, having fallen by –47% within 24 last hour.

Perhaps unsurprisingly, there are suspicious voices among the comments "Pull the rug" (an expression of a type of theft, whereby the owners of the project abandon their project, after stealing the investors' money), while some claim that the address of the given attacker is the same as the originator of the contract Vee Finance.

It is worth noting that just two days ago, it announced In Vee Finance, that the total value reserved on the platform has exceeded 300 million US dollars, an increase of 100 Million US dollars in 12 the previous hour.

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It has also been launched In the Finance Minute, the Vee Finance mainnet officially in 14 In September, the team said the smart contract had passed an audit SlowMist Technology.

The project has been funded by more than forty companies, including Huobi Ventures Blockchain Fund And Avalanche Asia Eco Fund AVATAR.