Decentralized Exchange Velocore Falls Victim to Hacker Attack
Velocore, a decentralized cryptocurrency exchange, recently experienced a hacker attack that resulted in the theft of over $6.8 million in Ethereum (ETH) from its pools. The attack targeted layer 2 networks, including Linea and zkSyncEra, causing significant losses for exchange users.
Following the attack, Velocore developers acted swiftly by halting the sequencer, blocking block production, and blacklisting the hacker’s address. They also collaborated with other exchanges to prevent the criminal from accessing any funds. Despite their quick response, the hacker managed to withdraw 700 ETH, equivalent to $2.6 million, through the ConsenSys bridge.
While some members of the crypto community have criticized Velocore’s decision to halt the blockchain and censor addresses, others view their actions as necessary to prevent further losses. In comparison to recent hacks like that of Japanese exchange DMM Bitcoin, which resulted in the theft of $305 million in bitcoins, Velocore’s efforts to limit damages have been commendable.
