VeChain Loses $6.6M in VET Tokens to Hacker in Attack on Buyback Wallet - Cointelegraph

VeChain Foundation’s wallet has been compromised in a hacker attack targeting funds earmarked for the foundation’s buyback program. Per a VeChain Foundation announcement on Dec. 13, an unknown hacker has redirected 1.1 billion VET tokens — valued at approximately $6,600,000 at press time — from the VeChain Foundation’s buyback wallet to a personal wallet address.

Security breach is likely a result of internal misconduct unnoticed due to human error In the initial update on the incident, VeChain Foundation noted that the hack is in “no way related” to the operations of the actual standard procedure or VeChain’s hardware wallet solutions. Additionally, VeChain has launched a security investigation on other crypto assets that are subject to the custody of the Foundation to prevent further breach.

Timeline of Vechain