- Linea blockchain stopped producing blocks for about one hour.
- The occasion resulted from an exploit on the Velocore DEX.
- Hackers stole Velocore's total $10 million liquidity pool.
Outstanding Chinese language crypto journalist Colin Wu has alerted the crypto group to a suspected exploit on Linea Blockchain, a second-layer scaling answer for Ethereum.
In a current submit on X, Wu confirmed that the blockchain suspended block manufacturing between blocks 5081800 and 5081801 for about an hour, with out giving a motive.
In a associated submit, Wu warned of a possible hack on Velocore, decentralized exchanges (DEX) on zkSync and Linea. He stated the suspected hackers drained all the $10 million liquidity pool on the DEX and transferred the stolen funds cross-chain to the Ethereum mainnet.
Linea Blockchain addressed the problem on its standing web page and offered updates to customers. The challenge confirmed Wu's report and stated it was investigating the incident:
“Sequencer is stopped.” We’re presently investigating to find out the basis trigger and proper it.”
The Linea crew didn’t elaborate or present particulars concerning the hack, however later knowledgeable customers that they’d applied a patch for the exploit and had been monitoring the outcomes.
Velocore confirmed the use and acknowledged the numerous affect on its CPMM funds. Nevertheless, the DEX assured customers of the soundness of the platform and famous that they’ll safely withdraw funds from the remaining funds.
DEX stated it has recognized the exploit mechanism and is organising an on-chain negotiation course of. They claimed to be monitoring the exploiters utilizing clues they left behind, whereas informing customers that Velocore on the Telos mainnet was not affected and the crew was working with the inspiration to freeze the options.
Velocore can also be reportedly working with outdoors networks to compensate affected victims in the course of the course of. The DEX promised to return as much as 80% of the initially deposited quantity of customers.
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