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Velocore V2

avoid.net/velocore-v2→12/100·87% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
anchored·4htrZv…Rv6E

Summary

Velocore V2 was a ve(3,3) decentralized exchange (DEX) deployed on the Linea and zkSync Era layer-2 blockchains. On June 2, 2024, the protocol suffered a critical smart contract exploit that drained approximately $6.8 million in ETH from its volatile liquidity pools. The attacker laundered stolen funds through Tornado Cash, no recovery was achieved, and the team subsequently announced a treasury liquidation rather than a protocol relaunch.

Connected Entities

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□Velocore V2
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    Timeline(10 events)

    2023-08-14

    Zokyo completes security audit of Velocore V2 smart contracts.

    2023-08-16

    Scalebit completes security audit of Velocore V2 smart contracts.

    2023-08-29

    Hacken completes security audit of Velocore V2 smart contracts.

    2024-06-02

    Velocore V2 exploited for approximately $6.8 million in ETH across volatile CPMM pools on Linea and zkSync Era. Attacker uses flash loans and manipulates fee calculation logic to drain pool liquidity. Stolen funds bridged to Ethereum mainnet via Across Protocol and laundered through Tornado Cash.

    2024-06-02

    Linea (ConsenSys' L2) unilaterally halts block production for approximately one hour, censoring attacker addresses. Action fails to prevent the loss of $6.8 million but draws major industry backlash over centralization concerns.

    2024-06-03

    Velocore team publishes on-chain message to attacker offering 10% white hat bounty (~$680,000) with a deadline of 08:00 UTC. No response received.

    2024-06-03

    Velocore team publishes post-mortem on Medium detailing the technical vulnerability and pledging a compensation plan for affected LPs.

    2024-07-01

    Velocore team announces decision to liquidate the protocol treasury to partially compensate LP victims rather than attempt a protocol relaunch. States that compensation will only cover a fraction of user losses.

    2024-09-01

    Marco Monaco, Linea's Growth Lead, resigns citing misaligned visions with Consensys leadership, in the aftermath of the Velocore exploit controversy.

    2024-10-03

    Velocore's VC governance token reaches an all-time low price of approximately $0.000069.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:32 AM

    last updated: 5/28/2026, 4:23:31 AM

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