- VEE lost a huge amount of $35 million.
- 8804.7 ETH and 213.93 BTC was stolen.
The cyber attackers are back once again in exploiting another crypto network. This time, the hackers cracked the blockchain defense of Vee Finance (VEE). As a result, VEE lost a huge estimated amount of $35 million. In detail, the hackers managed to loot crypto assets amounting to 8804.7 ETH and 213.93 BTC. Indeed, this huge volume of assets that have been robbed in the VEE platform pains the network.
This made the VEE network react in a tweet post:
Announcement: Our platform may have been exploited. All services have been paused. We are investigating the cause, please follow our official accounts for latest update.
— vee.finance🔺 (@VeeFinance) September 20, 2021
Regarding the details of the hacking incident, the VEE network has not yet released any official statement. However, one thing is for sure, the cyberattack happened a few days after its mainnet launch on Sept 14.
On the other hand, the VEE network team continues to find a solution to track and recover the stolen funds. In fact, VEE released a tweet post stating that they will reward people that can track the hackers. The amount of the reward or bounty amounts to $500K.
We are putting out a 500,000USD worth bounty for the person or team who can track down the attacker and return the funds.
Those with information relating to the attacker can contact us at: email@example.com via email.
— vee.finance🔺 (@VeeFinance) September 23, 2021
Recently, the VEE network has already coordinated with local authorities regarding this matter. It is also reported that the local authorities have already escalated this case to the FBI. In terms of compensation, the VEE network plans to compensate 100% of all lenders and depositors affected in the incident. This decision is made to keep their promise to uphold their customers first.
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