Vee Finance Exploited on Avalanche, lost $35M

Decentralized platform Vee Finance faces a hack attack on the Avalanche and loses around $35 million worth of crypto assets. 

In the present time Defi based projects are growing rapidly but on the other side hackers attacking on the Defi ecosystem are also growing because they have better & easy options to exploit & grab big amounts of funds. Recently pNetwork faced a hack attack. 

Read also: DeFi platform pNetwork exploited, lost $12.7 million

On 21 September, Vee.Finance announced on twitter that they faced a hacking attack and right now all the services of Vee.Finance will remain suspended until all investigations añd issues get fixed.

Hacker attacked on the VeeFinance creator bridge smart contract address. 

Right now, the VeeFinance team announced on twitter that they are planning for the Bounty reward for the exploiter. 

This tweet of VeeFinance clearly indicates that they are hoping that hackers will return the fund by accepting their bounty reward. 

Team also confirmed through the tweet that their StableCoin section is not affected, while the deposit & borrowing section will remain suspended. 

Read also: Coinbase to revoke lending product because of SEC threat