VeChain
Summary
VeChain (VET) is an enterprise-focused Layer-1 blockchain founded by Sunny Lu (former CIO of Louis Vuitton China). Launched in 2015 as a subsidiary of Bitse, rebranded and mainnet launched in 2018. The VeChain Foundation's buyback wallet was hacked in December 2019 due to employee negligence, losing 1.1 billion VET (~$6.5M). The Foundation held 27.3% of total token supply as of September 2019. VeChain's official X account was compromised in January 2024 for a scam giveaway. The blockchain has built-in fund freezing capabilities. Enterprise partnerships include Walmart China, BMW, and UFC. VeChain was among the first to proactively comply with MiCAR regulations.
Timeline(4 events)
2019-12-13
Foundation buyback wallet hacked; 1.1B VET (~$6.5M) stolen due to employee negligence
coindesk.comDecision Log
- hash: cmz59eo4JoCWYaqsc1ncuQhZrgRaNvdgRF896bGQ3FC
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 5/13/2026, 1:37:13 PM
last updated: 5/14/2026, 6:02:41 AM
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