All you should know about the $35M exploit that hit VEE Finance

All you should know about the $35M exploit that hit VEE Finance

ambcrypto.com
3 min read
fairly easy
DeFi hacks are growing exponentially by the week. With the risks associated with DeFi yet to be fully plugged in, hackers know how to exploit some of these vulnerabilities very well. The latest to fall victim to such hackers is Vee Finance. The decentralized finance platform has fallen victim to a $35 million exploit. According […]
DeFi hacks are growing exponentially by the week. With the risks associated with DeFi yet to be fully plugged in, hackers know how to exploit some of these vulnerabilities very well.

The latest to fall victim to such hackers is Vee Finance. The decentralized finance platform has fallen victim to a $35 million exploit. According to reports, the alleged hacker collected stolen assets on one address after exploiting the VEE Finance trade contract address.

Announcement: Our platform may have been exploited. All services have been paused. We are investigating the cause, please follow our official accounts for latest update.

Thanks! — vee.finance🔺 (@VeeFinance) September 20, 2021

In fact, as per the official blog post, the "VEE Finance team monitored a number of abnormal transfers and after further monitoring, a total of 8804.7 ETH and 213.93 BTC were attacked." This amounted to more than $35 million, at the time of writing.

Now, the timing of the aforementioned development is especially interesting. Just a few days ago, the platform…
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