Cryptocurrency [loss] $35M+

"Avalanche DeFi Platform Vee Finance Suffers $35M Hack"

2021-09-21 [vendor] Vee Finance [chain] avalanche
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

  1. 2021-09-21 Breach occurred
  2. 2021-09-21 Publicly disclosed