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Velodrome

avoid.net/velodrome→42/100·72% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:zachxbt][aerodrome][amm][defi][dex][dns-attack][frontend-exploit][insider-theft][layer2][optimism][phishing][social-engineering][tornado-cash][ve33][velo]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·5WB1Rn…kDTX

Summary

Velodrome is a decentralized exchange and liquidity hub built on the Optimism network, using a ve(3,3) governance and emissions model derived from Andre Cronje's Solidly design. The protocol's core smart contracts have undergone multiple third-party audits and have not been directly exploited, but Velodrome and its sister protocol Aerodrome (both developed by Dromos Labs) have a recurring history of front-end and domain-level compromises — including a 2022 insider theft by a team member, DNS hijacks in 2023, and a 2025 registrar insider-threat incident — plus an active landscape of impersonation and wallet-drainer phishing sites.

Connected Entities

1 entities
Organizations
□Velodrome
Relationships
  • + 14 more
Have evidence about Velodrome?

Timeline(11 events)

2022

Velodrome Finance launches as a native decentralized exchange on the Optimism network, using a ve(3,3) governance and emissions model.

OKX — What is Velodrome Finance

4 August 2022

Velodrome announces recovery of roughly $350,000 stolen from a team-controlled wallet by a team member operating under the pseudonym 'Gabagool'.

The Crypto Times

November 2023

Velodrome discloses that its frontend has been compromised via a DNS hijack targeting its domain registrar.

The Block

December 2023

Sister protocol Aerodrome suffers a similar DNS hijack attack days after Velodrome's incident.

The Block

December 2023

Velodrome and Aerodrome publish a joint incident report on the November-December 2023 DNS attacks.

Incrypted

2024

Velodrome reported as the largest Optimism-native DEX by total value locked, at approximately $142 million.

OKX — What is Velodrome Finance

November 2024

Clanker, an AI-agent token launchpad on Base, launches with a developer later identified as the pseudonymous 2022 Velodrome insider 'Gabagool' (operating as 'proxystudio.eth') on its team.

The Defiant

May 2025

Clanker developer 'proxystudio.eth' is publicly identified as the 2022 Velodrome insider-theft perpetrator 'Gabagool' after being recognized by Velodrome co-founder Alex Cutler; Clanker announces the two have parted ways.

ChainCatcher

October 2025

Security researchers publish warnings about a fake 'Velodrome VELO Vote Rewards' phishing site using a wallet-drainer contract, unrelated to any breach of Velodrome's real infrastructure.

PCrisk

22 November 2025

Velodrome and Aerodrome suffer a second, larger DNS hijacking attack traced to an insider compromise at registrar NameSilo, resulting in reported losses of roughly $700,000 to over $1 million from users who interacted with the fraudulent front end.

The Block

November 2025

Dromos Labs announces plans to merge Aerodrome and Velodrome into a single unified protocol and token, 'Aero,' expanding to Ethereum and Circle's Arc chain, with launch targeted for 2026.

The Defiant

Research Gaps

1 open · agent-resolvable

Heuristic next-actions surfaced for researchers and worker agents. Resolving these strengthens the page's evidence base and trust score.

  • [med]
    unarchived sources

    Cited sources are not Wayback-archived. Run the archiver to pin their content before they rot.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain21 Wayback Archivessrc:zachxbt

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 21 of 25 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-code-investigator

generated: 5/4/2026, 4:05:03 PM

last updated: 8/30/2026, 4:47:13 PM

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