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Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Avalanche AVAX Forum => Topic started by: sirty143 on September 22, 2021, 10:01:16 AM

Title: DeFi platform Vee Finance exploited for $35M on Avalanche blockchain
Post by: sirty143 on September 22, 2021, 10:01:16 AM

(https://i.imgur.com/lWlmtfkm.jpg)

Decentralized finance (DeFi) platform Vee Finance reported $35 million in losses in an exploit, just a few days after launching its mainnet on the Avalanche network. After pausing services due to suspicious activity on Monday, Vee Finance confirmed that its platform was under attack resulting in a loss of 8,804 Ether (ETH) and around 214 Bitcoin (BTC). See more for yourself here (https://cointelegraph.com/news/defi-platform-vee-finance-exploited-for-35m-on-avalanche-blockchain).

Your opinion is greatly appreciated.

Title: Re: DeFi platform Vee Finance exploited for $35M on Avalanche blockchain
Post by: kent47400 on February 16, 2022, 04:59:19 PM

Very sad to hear that and this is definitely something happening in the cryptocurrency space including the Avalanche coin network.
It seems that this is indeed bad news from Vee Finance and it is time for Avalanche to improve themselves in their security system. This always my analysis .
I'm also sure that Vee Finance has a strong team who are experts in hacking and of course Avalanche also has a strong community but if there is an exploit like this then this is already bad news for Avalanche