Velocore report: Compensation will be provided to affected users

ChainCatcher message, Velocore released a vulnerability incident analysis report, indicating that the protocol encountered a security vulnerability on June 2, resulting in a loss of approximately 6.8 million dollars worth of ETH. The root cause of this vulnerability is a flaw in the Balancer-style CPMM pool contract. The main reason for the incident is a logical error in the "velocore__execute()" function of the ConstantProductPool, and measures have been taken to ensure that this vulnerability cannot be exploited again.

The platform is currently actively investigating and tracking the hacker, while attempting to conduct on-chain negotiations and requesting cooperation from various protocols and trading platforms to investigate the activities of the attacker. They are also maintaining close communication with security partners and the foundation.

For the affected users, the platform has taken a snapshot before the incident occurred. Once operations are restored, an appropriate compensation plan will be implemented to address the losses suffered by users.