On September 21, 2021, V-Finance, a subversion-based decentralized finance (DFI) platform, announced that it was suffering from an incident that removed 8,804 ethers and 213 bitcoins from the system. The team suspended the Defy Platform deal and insisted that the stable coins were “not affected by the attack”.
Defi Project Vee Finance lost 35 million from the hack
Avalanche (AVAX) blockchain has become a popular network in recent times and it has attracted a number of daffy applications like Benqi.fi, Trader Joe, Lydia Finance, Sharum Finance and Osiris. The V Finance platform is another defi platform that has collected many users and coins that have added a total value lock (TVL) to the platform.
However, on September 21, the team explained that the project had been “attacked” and updated the V Finance community via Twitter and an incident report. “V. Finance announces events,” Tweets Details “The V Finance team has suspended platform agreements to ensure the security of more user assets, and suspended the deposit and orrow function. The Stablecoin division is not affected by the attack, ”the release added.
The V Finance Project emphasizes that stablecoin is safe
In the incident report, the V Finance team revealed that “8,804.7 ETHs and 213.93 BTCs were attacked.” At the time of writing, the loss is equivalent to about .4 35.49 million using the current Bitcoin and Ether exchange rate. “After investigation, the suspected assailant started the attack through the above address (etherscan address) and collected stolen assets at this address,” the V Finance team said. Defy project operators further emphasized:
The Stablecoin category is not affected by the attack. Currently, according to Address Monitoring, the attacker has not yet further transferred or processed the stolen assets. The Vee team is actively working to make the incident more clear and will continue to try to contact the attacker to recover assets.
The V Finance Network attack follows a September 20 attack on the Pnetwork protocol, which saw the loss of 277 bitcoins (BTC) through the Binance Smart Chain (BSC). The Avalanche network saw its first major defi attack six days ago when Jabu Finance lost 3.2 million in a hack. Jabu Finance Hacker created .5.5 billion Jabu using the Spore Token protocol of the hacker platform and took the coins to a secret wallet.
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