Velodrome and Aerodrome DEXs Suffer Frontend Attacks

Published: Nov 29, 2023
Written By:
Vignesh Karunanidhi
Milk Road Writer

In a series of tweets, two decentralized cryptocurrency exchanges (DEXs) on the Optimism and Base blockchains reported that their frontends had been hacked. Velodrome, the biggest DEX on Optimism in terms of total value locked, tweeted, “Our frontend is currently compromised. Please do not interact with Velodrome for the time being. The team is investigating and will communicate more here when we have it.”

Aerodrome, a fork of the Velodrome protocol and the largest DEX on Base posted an identical message, warning users not to interact with Aerodrome.

ZachXBT identifies two addresses linked to Velodrome Aerodrome attack

While details remain limited at press time, Zachxbt identified two addresses the stolen funds appear to be flowing into:

  • 0x02BA13f39D7df9C3F7592257b636eD6C7CC4ae78
  • 0xf64fCEdFCe714Bbe835761e54D7067f2f8231443

Over $70,000 worth of crypto assets have already been drained into these addresses. The potential attack vectors are still unclear, but decentralized exchange frontends have been increasingly targeted by hackers seeking to exploit vulnerabilities. Users are generally advised to refrain from approving transactions or connecting wallets during such incidents.

In their tweets, neither Velodrome nor Aerodrome provided specifics on the exploits used or assets impacted. The teams said they would share additional updates as the investigations unfold.

As decentralized platforms continue to grow rapidly, security remains an ongoing challenge. Users are reminded to exercise caution when approving transactions and connecting wallets to less-tested applications.

The Velodrome and Aerodrome teams are working swiftly to contain the attacks, but losses may still increase as their investigations progress.

Vignesh Karunanidhi
Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 5 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.