Defi Platforms Aerodrome and Velodrome Experience Security Breaches
Two prominent defi platforms, Aerodrome and Velodrome, have recently suffered security breaches in their front-end systems. The incidents occurred on November 28 and were disclosed by the platforms themselves.
Both Aerodrome and Velodrome have taken immediate action to address the breaches. They have advised their users to stop all interactions with their services due to the security concerns. The platforms have also launched thorough investigations into the incidents.
User Alert: Avoid Using Velodrome’s Social Media Bio Link
Velodrome has specifically warned its users not to use the web link provided in its social media bio. Instead, they should only use the mirror link provided in a tweet for the time being.
To be clear, do NOT use the link in our Twitter bio. The link in the quoted tweet is a mirror and is safe. Only use that one for now. https://t.co/8QDodF7HDP
— Velodrome (@VelodromeFi) November 29, 2023
An analyst named ZachXBT has highlighted that approximately $40,000 worth of digital assets are being transferred from the compromised platforms. These assets are associated with two different digital wallet addresses.
Aerodrome currently holds a total value of $62.68 million according to DefiLlama, while Velodrome’s total value amounts to $136.76 million. Notably, Velodrome is recognized as the largest decentralized exchange (DEX) on the Optimism network, whereas Aerodrome operates as a leading DEX on the Base network.
Hot Take: Strengthening Defi Security Measures
These recent security breaches in defi platforms highlight the ongoing need for robust security measures in the crypto industry. As a crypto reader, it is crucial to stay vigilant and follow any alerts or warnings issued by platforms you use.
Furthermore, this incident emphasizes the importance of conducting thorough investigations and implementing necessary changes to prevent future attacks. Defi platforms must prioritize the security of their users’ assets and take proactive steps to mitigate risks.
Ultimately, these security breaches serve as a reminder that while defi offers exciting opportunities, it also comes with inherent risks. By staying informed and cautious, you can better protect yourself in the ever-evolving world of crypto.
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