Cryptocurrency
[loss] $35M+
"Avalanche DeFi Platform Vee Finance Suffers $35M Hack"
Primary Source ↗Financial Loss
$35.0M
(35,000,000 USD)
Blockchain(s)
Avalanche
Incident Details
The Vee Finance decentralized finance platform was hacked for $35 million worth of Ethereum and Bitcoin. The platform suspended trading after the hack was discovered, and also tried to tempt the hackers with promises of a bug bounty if they’d just be so kind as to return the funds. The platform had only launched a week earlier, though boasted of having $300 million worth of assets locked on their exchange.
Total loss estimated at $35,000,000.
Technical Details
- Initial Attack Vector
- Smart contract exploit / hack
- Vendor / Product
- Vee Finance
Timeline
- 2021-09-21 Breach occurred
- 2021-09-21 Publicly disclosed