Share this article
Vee Finance Hit for $35M in Second Major Exploit on Avalanche
The platform was attacked for a total of 8804.7 ETH (around $26 million) and 213.93 BTC (around $9 million).
Updated May 11, 2023, 6:29 p.m. Published Sep 21, 2021, 8:59 a.m.
Make us preferred on Google
Decentralized finance (DeFi) platform Vee Finance has been hit for an exploit of around $35 million in the second major attack of an Avalanche platform.
- The platform was attacked for a total of 8804.7 ETH (around $26 million) and 213.93 BTC (around $9 million) on Sept. 20, Vee Finance announced Tuesday, adding that the stablecoin section was not affected by the attack.
- Vee Finance also highlighted the address through which the attack was launched and where the stolen assets remain collected for the time being.
- Details of the nature of the attack remain scant, though Vee Finance subsequently published a tweet addressing the attacker directly. “We’re willing to launch a bounty program for the bug you identified. Please connect us via email or other contact you prefer,” it said.
- Vee had announced Saturday that total value locked on its platform had surpassed $300 million.
- In the wake of the exploit, the value of native token VEE tanked from over $0.25 to $0.085, according to CoinGecko. At the time of writing, its price had recovered somewhat to nearly $0.11.
- The exploit follows a $3.2 million hack of Avalanche-based DeFi protocol Zabu Finance earlier this month, thought by analytics provider DeFiprime to be the “first big exploit” on the Avalanche blockchain.
Dear Mr/Ms 0x**95BA,
— vee.finance🔺 (@VeeFinance) September 21, 2021
This is VEE Finance team, we’re willing to launch a bounty program for the bug you identified. Please connect us via email or other contact you prefer.https://t.co/24R5XuSDDS pic.twitter.com/HwSNRi838g
STORY CONTINUES BELOW
Read more: Cross-Chain DeFi Site Poly Network Hacked; Hundreds of Millions Potentially Lost
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Deus X Capital’s Tim Grant on cutting through the crypto hype
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
What to know:
- Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
- Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
- Grant will be speaking at Consensus Hong Kong in February.
Top Stories
