The DeFi platform Vee Finance was developed on the Avalanche blockchain at a price of 35 million U.S. dollars

Decentralized finance (DeFi) platform Vee Finance reported a loss of $35 million in its latest exploit, just a few days after launching the mainnet on the Avalanche network.

Rear pause Services provided due to suspicious activity on September 20, Vee Finance comfirmed The attack on its platform resulted in a loss of 8,804 Ether (Ethereum) And about 214 bitcoins (Bitcoin). At the time of writing, the total amount is more than 35 million U.S. dollars.

According to the official event announcement, the suspect has collected a stolen asset address After using the VEE Finance trade contract address. In order to prevent further losses, the VEE Finance team suspended the contract and deposit and borrowing functions of the platform.

At the time of publication, Vee Finance did not elaborate on the specific details and possible reasons behind the latest vulnerability. “The VEE team is actively working to further clarify the incident and will continue to try to contact the attacker to recover the assets. We are taking and handling this incident seriously and will do our best to protect the interests of VEE Finance users,” the announcement stated.

Vee Finance is a DeFi lending platform Focus Supports multiple mining mechanisms such as liquidity mining, transaction mining, and leveraged mining.The platform is officially roll out It simultaneously launched liquidity mining on the Avalanche mainnet on September 14. After integrating Chainlink price feeds as an oracle network solution, Vee Finance Broke On September 19, a total value of US$300 million was locked on its platform.

related: The latest DeFi hacker against BSC discovered that $12.7 million in Bitcoin was stolen from pNetwork

At the time of the latest incident, more and more vulnerabilities have been exploited for the DeFi-focused blockchain protocol Avalanche Launched in September 2020. Last week, Zabu Finance, a DeFi application based on Avalanche $3.2 million reportedly exploited, Causing the value of Zabu tokens to plummet to zero.

Avalanche’s native token AVAX Set a record high Recently, at its price Beyond According to data from CoinMarketCap, it was $75 on September 18. At the time of writing, AVAX is trading at $61.79, which has fallen by about 3% in the past 24 hours, but is still up by about 12% in the past 7 days.