Hacker robbed VeChain Fund’s $ 6.6 million crypto wallet

VeChain Foundation reported about the hacking of the wallet for the buyback of tokens and the theft of 1.1 billion VET, which at the rate at the time of the incident was about $ 6.6 million.

The attacker transferred all funds to his personal address, which the organization marked, starting to track further movements of assets, and  notified all exchanges on which the cryptocurrency is traded and contacted Singapore law enforcement.

The organization claims that the reason for the hack was the human factor, and not a gap in the security system of software or hardware solutions of the project. According to representatives of the fund, the leak is most likely due to the fact that when creating the account, one of the employees partially violated the approved standard procedure. However, the company did not blame him for the incident, as the error was unintentional..

Following the incident, an investigation was launched into the security of other crypto assets held by the Foundation in order to prevent a recurrence of the situation..

Hacker robbed VeChain Fund's $ 6.6 million crypto wallet

At the time of publication, VeChain ranks 30th in terms of capitalization. After the publication of the theft, the VET course fell by almost 7%.

By the end of the year, cybercriminals have become noticeably more active. The previous major hack happened at the end of November, when the crypto exchange Upbit was stolen 342,000 ether for $ 50 million.

text: Ivan Malichenko, photo: content.choiz

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