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ID:

velodrome-finance-1010

Date:

Status:

Incident Count:

August 4, 2022

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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Audit By:

Audits:

Peckhield

Loss Amount:

350,000

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Recovered:

350,000

Rewards:

Currency:

USD

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Velodrome is an AMM designed as the central trading and liquidity marketplace on Optimism.

The team reported that one of the team-owned wallets was compromised leading to a loss of $350k in operational funds used for protocol operations and payments. No user funds were custodied at any point in the compromised wallet, and no user funds are at risk. No OP grant funds yet to be distributed were or are at risk.

Updated 8/25: Investigations pointed out the involvement of a team member, who goes by the pseudo name Gabago. 350k was recovered.

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