OP
by BSC News
November 29, 2023
Users have been urgently advised to refrain from interacting with the sites while investigations into the incident are underway.
Decentralized exchanges (DEX) Velodrome and Aerodrome have issued urgent warnings to their users after falling victim to an attack that compromised the security of their websites.
Both platforms have advised users not to interact with their sites until further notice as investigations into the full extent of the breach continue.
The assailants apparently targeted the Domain Name System (DNS), a fundamental protocol crucial for the seamless functioning of websites.
While the DNS is a widely used and reliable system, vulnerabilities can be exploited by attackers to execute malicious actions. On-chain detective ZachXBT disclosed that funds stolen during the incident have been traced to specific addresses.
Reports indicate over $40,000 in funds have been transferred to two identified addresses. Velodrome and Aerodrome, however, assured users that protocol funds are safe. While using Velodrome, one user encountered a "weird" message and advised others to be vigilant.
Velodrome, currently holding the second-largest decentralized exchange protocol position on OP Mainnet in terms of total value locked and revenue has over $139 million in locked value. Meanwhile, Aerodrome leads as the largest protocol on Base by total value locked, with a figure surpassing $62 million.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
Related News
Latest News
May 13, 2024
Binance Labs New Investment: What is Zest Protocol?
May 13, 2024
Japan’s Metaplanet Adopts Bitcoin as Reserve Asset Amid Yen's Decline
May 11, 2024
Weekly Article Recap: 5/06-5/10
May 10, 2024
IMF Urges Nigeria to License Crypto Exchanges for Enhanced Regulation
May 10, 2024
Ethereum Network Activity Cools Off: Will $ETH’s Price Go Any Farther This Month?
May 10, 2024
Binance and KuCoin Eyes Return to India with FIU Registration
May 9, 2024
DWF Labs Market Manipulation Allegations: What We Know
May 9, 2024
JPMorgan Predicts SEC's Robinhood Notice Won't Block Ethereum ETF Approvals
More News