Hackers Goal Velocore DEX, Stealing $10 Million, Linea Blockchain Briefly Pauses

• Linea blockchain stopped producing blocks for about one hour.
• The occasion resulted from an exploit on the Velocore DEX.
• Hackers stole your complete liquidity pool on Velocore, amounting to $10 million.

Outstanding Chinese language crypto journalist Colin Wu alerted the crypto neighborhood to a suspected exploit on Linea Blockchain, a Layer 2 scaling answer for Ethereum.

In a current put up on X, Wu confirmed the blockchain paused block manufacturing between blocks 5081800 and 5081801 for about an hour, with out offering a motive.

In a associated put up, Wu warned of a possible hack on Velocore, a decentralized trade (DEX) on zkSync and Linea. He said that the suspected hackers drained your complete liquidity pool on the DEX, amounting to $10 million, and transferred the stolen funds throughout chains to the Ethereum mainnet.

Linea Blockchain addressed the problem on its standing web page, offering updates to customers. The challenge confirmed Wu’s report and said that it was investigating the incident:

“Sequencer is stopped. We’re at the moment investigating to pinpoint a root trigger and remediate.”

The Linea crew didn’t elaborate or present particulars in regards to the hack however later knowledgeable customers that that they had applied a repair for the exploit and had been monitoring the outcomes.

Velocore confirmed the exploit and acknowledged the numerous influence on its CPMM swimming pools. Nonetheless, the DEX reassured customers of the platform’s stability, noting that they’ll safely withdraw funds from the remaining swimming pools.

The DEX said that they’ve recognized the exploit mechanism and are organising an on-chain negotiation course of. They claimed to be monitoring the exploiters with clues they left behind whereas informing customers that Velocore on the Telos mainnet was not affected, and the crew is working with the muse whereas freezing functionalities.

Velocore can be reportedly working with exterior networks to reimburse affected victims throughout the course of. The DEX promised to refund as much as 80% of customers’ unique deposited quantity.