VeChain Foundation lost USD 6.5 mln in VET token hack
The Singapore-based VeChain Foundation’s buyback wallet was compromised, with the funds being withdrawn to a private address. The funds were already tagged and tracked, and VeChain is working with cybersecurity company Hacken in a bit to isolate the tokens’ flow to various exchanges.
Moreover, VeChain mentioned that it attributes the hacking to a human error within the foundation and has since corrected the error and protocols. The company was launched in June 2018, and it serves as a supply-chain tool for automakers including BMW and Renault.
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