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Vee Finance Suffers $35M Exploit on Avalanche Blockchain By CoinQuora

by Mike Robinson

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Vee Finance Suffers $35M Exploit on Avalanche Blockchain
  • Vee Finance has lost $35 million on Avalanche blockchain.
  • This hacking attack occurred just days after Vee Finance’s mainnet was launched on Avalanche.

Decentralized finance (DeFi) protocol Vee Finance has fallen victim to hackers’ trap. Vee Finance revealed that the company had lost $35 million just days after its mainnet was launched on Avalanche’s network.

More details are available. Vee Finance abruptly halted services on September 20 due to suspicious attacks on its network. Vee Finance quickly confirmed that the attacker had attacked their platform.

In effect, the hacker stole 8,804 Ether (ETH) and 214 (BTC). The hacker also stole 214 (BTC) and 8,804 Ether (ETH). This is equivalent to the $35 million lost. Based on the Vee Finance announcement, the hacker had a stolen asset on one address after it exploited the Vee Finance

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