On September 21, 2021, an Avalanche-based decentralized finance (defi) platform Vee Finance announced that it suffered from an incident that siphoned 8,804 ether and 213 bitcoin out of the system. The team has suspended the defi platform contracts and stressed that the stablecoins have not been “affected by the attack.”
Defi Project Vee Finance Suffers a Loss of $35 Million From Hack
The Avalanche (AVAX) blockchain has been a popular network in recent times and it has attracted a number of defi applications like Benqi.fi, Trader Joe, Lydia Finance, Shroom Finance, and Osiris. The Vee Finance platform is another defi platform that has gathered a number of users and coins which added to the platform’s total value locked (TVL).
However, on September 21, the team explained that the project was “attacked” and updated the Vee Finance community via Twitter and an incident report. “Vee.Finance Incident Announcement,” the tweet details. “The Vee Finance team has suspended the platform contracts to ensure the safety…