VeChain Loses 1M Coins from Compromised Buyback Wallet 

The VeChain (VET) buyback program, which boosted the token price, was shaken by a recently discovered loss from the central wallet. The VET asset also allows for staking and produces VTHO, a reward token.

The tokens accrued in the Foundation’s wallets will not be burned, but staked to produce VTHO, which will then be distributed to partners to test the VeChain blockchain for their apps. The VeChain VET asset, which is at double-zero sub-penny prices since the token swap, is also seen as potentially achieving more significant gains.

Timeline of Vechain