A well-known crypto analyst was accused of stealing $350,000 from the Velodrome
The decentralized Velodrome exchange has identified a former team member responsible for the theft of $350,000 from one of the platform’s wallets in August.
According to representatives of DEX, an anonymous coder Gabagool, known on Twitter under the nickname Gabagool.eth, is involved in the theft.
He gained popularity due to the fact that he is part of a group of network detectives who regularly expose fraudulent actions in the DeFi sphere.
“The Velodrome team has severed relations with Gabagool and is working with legal counsel to determine the next steps,” the company said.
As reported, the incident did not affect user funds.
Earlier in an interview with The Block, Gabagool said that the company was investigating the hacking and that the attacked wallet contained funds from which the exchange team received a salary.
The cryptographer himself has not yet commented on the charges against him.
Velodrome presents the implementation of the ve(3,3) escrow model proposed by the creator of Yearn Finance, Andre Cronje. The project is a fork of the Solidly DEX developed by Cronje, which was supposed to launch ve (3.3) on the Fantom network. In July, the platform’s TVL exceeded $100 million blocked on the Optimism network.
Recall that in early August, unknown people compromised the DeFi-protocol frontend of Curve Finance. As a result, users lost assets worth $573,000.
The decentralized Velodrome exchange has identified a former team member responsible for the theft of $350,000 from one of the platform’s wallets in August. According to representatives of DEX, an anonymous coder Gabagool, known on Twitter under the nickname Gabagool.eth, is involved in the theft. He gained popularity due to the fact that he is…
The decentralized Velodrome exchange has identified a former team member responsible for the theft of $350,000 from one of the platform’s wallets in August. According to representatives of DEX, an anonymous coder Gabagool, known on Twitter under the nickname Gabagool.eth, is involved in the theft. He gained popularity due to the fact that he is…