Velodrome accused her former security specialist of theft $350 000 – Bits Media

Cryptocurrency Exchange Velodrome, victim from hacking in August, reported, that the culprit of the incident is their former blockchain developer and cybersecurity specialist.

Decentralized exchange (DEX) Velodrome during the hacking investigation revealed, that assets on sum $350 000 were stolen by an anonymous developer, famous under the nickname "Gabagool".

Gabagool has gained popularity in the crypto community due to, what, entering the group of blockchain security experts, He exposed the actions of fraudsters in the Defi industry many times. Gabagool has not yet commented on the accusation against him.

“The Velodrome team has broken a contract with Gabagool, and together with the legal adviser determines the following steps to hold it accountable. ", - said the exchange.

Immediately after hacking, Gabagool said, that the team is investigating the incident, And in the target wallet, personal wage funds are stored. Velodrome assured users, that their assets were not injured and are in full security.

Velodrome project is the implementation of a conditional deposit model, proposed by the creator of Yearn.finance Andre Krony (Other cronje). In July, the total cost of the platform exceeded $100 million.

Recall, that recently a US Securities and Exchange Commission (SEC) accused 11 man in the creation of a cryptocurrency pyramid on $300 million.