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Aerodrome and Velodrome DeFi platforms experience front-end hacks

The decentralized finance (DeFi) platforms Aerodrome and Velodrome reported compromises to their front ends on Nov. 28.

The The two platforms took to social media to warn users that the front-ends for both platforms were under attack from malicious actors.

Both platforms issued statements on X (previously Twitter) that their user interfaces had been compromised and requested that users refrain from interacting with the platforms during the ongoing investigation.

Our frontend is currently compromised. Please do not interact with Aerodrome for the time being. The team are investigating and will communicate more here when we have it.— Aerodrome (@aerodromefi) November 29, 2023

Our frontend is currently compromised. Please do not interact with Velodrome for the time being. The team are investigating and will communicate more here when we have it.— Velodrome (@VelodromeFi)  29 November , 2023

Approximately $40,000 in funds, according to one X user, are reportedly in transit and can be traced back to two distinct wallet addresses.

ZachXBT Identifies Two Addresses Linked To Velodrome Aerodrome Attack

While details remain limited at press time, Zachxbt identified two addresses the stolen funds appear to be flowing into:

  • 0x02BA13f39D7df9C3F7592257b636eD6C7CC4ae78
  • 0xf64fCEdFCe714Bbe835761e54D7067f2f8231443

The gravity of this attack highlights the critical importance of maintaining security in financial environments. User trust is compromised when the integrity of platforms is threatened, and the response and transparency of Velodrome and Aerodrome in this incident are essential steps to mitigate risks and restore the confidence of their followers.

In their tweets, neither Velodrome nor Aerodrome provided specifics on the exploits used or assets impacted. The teams said they would share additional updates as the investigations unfold.

As decentralized platforms continue to grow rapidly, security remains an ongoing challenge. Users are reminded to exercise caution when approving transactions and connecting wallets to less-tested applications.

DeFi data tracker, DefiLlama reported that the total locked value on Aerodrome is approximately $63.59 million, whereas, on Velodrome, it stands at $139.73 million. More information on this ongoing incident will be updated as and when available. Contributory reporting was done by Arijit Sarkar. In related news, the individual responsible for the KyberSwap hack has put forth a reward of $4.6M for the recovery of the stolen $46M.

The Velodrome and Aerodrome teams are working swiftly to contain the attacks, but losses may still increase as their investigations progress.

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