Vee Finance
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score was recalculated from the page's findings, 53 → 54. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -9.6 |
| Incidents it suffered (e.g. hacks) | -6.4 |
| Problems around it, caused by others | -0.8 |
| Long-running | +6 |
| Sum | 54 |
- 1 section set aside: the claims did not hold up in a fact-check, pending correction.
Score: 54/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 7 of 13 claims confirmed · 6 need better sources
anchored·tT9hA5…9YjqSummary
Vee Finance is a decentralized lending and leveraged trading protocol deployed on the Avalanche blockchain that launched its mainnet on September 14, 2021. Within one week of launch, on September 20-21, 2021, an attacker exploited price oracle manipulation and a decimal calculation error in the protocol's smart contracts, draining approximately $35 million in ETH and BTC — a hack that ranks among the largest DeFi exploits on Avalanche. The protocol relaunched as V2 with improved security measures including Chainlink oracle integration, but the stolen funds were never recovered, and activity and token value have declined precipitously since the incident.
Connected Entities
6 entities · 60 linked investigations- Zabu Finance→mentioned with→Avalanche(70%)
- Zabu Finance→mentioned with→ZachXBT(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- Chainlink→mentioned with→Ethereum(65%)
- Vee Finance→mentioned with→Zabu Finance(80%)
- Avalanche→mentioned with→Ethereum(70%)
- Vee Finance→mentioned with→Ethereum(60%)
- Vee Finance→mentioned with→Chainlink(70%)
- Vee Finance→mentioned with→Avalanche(70%)
- Vee Finance→mentioned with→ZachXBT(60%)
Timeline(14 events)
26 May 2021
CertiK completes smart contract security audit of Vee Finance. CertiK lists the project as high-risk.
9 September 2021
SlowMist completes pre-launch security audit of Vee Finance smart contracts, identifying oracle-related concerns.
14 September 2021
Vee Finance mainnet launches on Avalanche. Total value locked surpasses $300 million within days.
20 September 2021
Vee Finance team identifies abnormal transfers. Exploit begins; attacker drains 8,804.7 ETH (~$26M) and 213.93 BTC (~$9M) via oracle manipulation and decimal calculation error.
21 September 2021
Exploit confirmed publicly. VEE token crashes from $0.25 to $0.085. Protocol suspends all smart contracts. SlowMist publishes technical post-mortem. Rekt.news ranks exploit #7 on its DeFi leaderboard.
21 September 2021
Vee Finance files police report and offers $500,000 USD bounty for attacker identification. Attacker begins moving funds through CoinJoin mixer.
24 September 2021
Vee Finance publishes initial compensation plan, establishing a pool for affected users payable in AVAX, WBTC, WETH, LINK, and USDT.
25 September 2021
Case escalated to the FBI due to scale of loss and alleged links to other attacks.
28 September 2021
Vee Finance publishes formal restart plan for V2 with security improvements.
2 October 2021
Vee Finance publishes updated compensation pool and relaunch plan details. Compensation pool opens.
4 October 2021
SlowMist completes Phase 2 security audit of Vee Finance V2 contracts.
28 December 2021
Vee Finance reports 24,475 USDT deposited into compensation pool from platform revenue — a small fraction of the $35M lost.
2022
V2 relaunches with Chainlink oracle integration for money market; leveraged trading function remains suspended.
2025
VEE token trading near $0.00001 USD with 24-hour volume below $100, representing over 99.99% decline from pre-hack levels.
Decision Log
- slot 464299627 · hash 4UgMAZdptQfMho3vwdPwTrpJYLTrDE6zKUrMMWpJZ8v3
- slot 464299477 · hash 7ecdceSr8FyvWx7GWkT4YdRomBjfvn3HAbvhk4dpVyDq
- slot 464299472 · hash yc1hgqJzPAEAvqpURgGTSrcZMsC325tUeMFavzVomRi
- slot 455368611 · hash 538NaB9mNMtNyJwhg8hSV57NccsHP8BxRiqTHVr7usKZ
- slot 421244906 · hash 4mJvj5aD5fUfHXvz97wVh5ituJ69BBJk8CPpYKFUF8tr
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 13 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:54 AM
last updated: 11/2/2026, 12:49:06 AM
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