{"id":21839,"date":"2024-06-02T18:00:47","date_gmt":"2024-06-02T15:00:47","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21839"},"modified":"2024-06-02T12:38:47","modified_gmt":"2024-06-02T09:38:47","slug":"velocore-hack-leads-to-10-million-loss-for-dex-customers","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/velocore-hack-leads-to-10-million-loss-for-dex-customers\/","title":{"rendered":"Velocore Hack Leads to $10 Million Loss for DEX Customers"},"content":{"rendered":"<p>Customers of <strong>the distributed exchange (DEX) Velocore<\/strong>, on zkSync and Linea, have reportedly lost approximately<strong> $10<\/strong> <strong>million in money<\/strong> after it was hacked. The Velocore team started looking into the hack in reaction to the exploitation, therefore establishing an <em>&#8220;on-chain negotiation process.&#8221;<\/em><\/p>\n<h1>Details of the Hack and Immediate Response<\/h1>\n<p>Chinese crypto reporter Colin Wu first revealed the attack on his Wu Blockchain page on X; later, crypto analyst Marty Party also shared the story.<\/p>\n<p>After the hack, <a href=\"https:\/\/x.com\/velocorexyz\/status\/1797117286270353883\"><strong>Velocore<\/strong><\/a> sent an <em>&#8220;Emergency Notice&#8221;<\/em> warning clients against exploitation. As a result, the crew shut down the platform, freezing the pilfered money. Still, the hackers allegedly were able to move some of the Ether tokens acquired across networks to the Ethereum mainnet.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/ftx-sells-shares-as-bankruptcy-costs-increase\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: FTX Sells Shares as Bankruptcy Costs Increase<br \/>\n<\/span><\/em><\/a><\/p>\n<p>According to the DEX procedure, it had asked the security team for assistance in fixing the problem. The emergency alert issued by <strong>Velocore<\/strong> said,<\/p>\n<p><strong>Velocore<\/strong> said in its most recent article that the team has found the exploit technique and promised additional updates that are not too far off. The group also promised directions for safe disengagement in the future. Furthermore, the team said, <em>&#8220;<strong>Velocore<\/strong> on the Telos mainnet has not been affected; we are working with the foundation while functionalities are frozen.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customers of the distributed exchange (DEX) Velocore, on zkSync and Linea, have reportedly lost approximately $10 million in money after it was hacked. The Velocore team started looking into the hack in reaction to the exploitation, therefore establishing an &#8220;on-chain negotiation process.&#8221; Details of the Hack and Immediate Response Chinese crypto reporter Colin Wu first<\/p>\n","protected":false},"author":6,"featured_media":2674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,11,1],"tags":[4220,1201,6584],"class_list":["post-21839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-exchange-news","category-genel","tag-decentralized-exchange-dex","tag-hack","tag-velocore"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Velocore Hack Leads to $10 Million Loss for DEX Customers<\/title>\n<meta name=\"description\" content=\"Velocore DEX on zkSync and Linea loses $10 million in a hack, 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