Vee Finance on Avalanche was exploited on September 21, 2021 for ~$34-35M ($9M BTC + $26.2M ETH). The attacker manipulated Pangolin DEX prices by creating fake trading pairs and executing manipulative trades to distort prices that Vee Finance used as its single oracle source.

According to official sources, the loan agreement Vee.Finance officially released an explanation about the attack. The content is as follows: On September 20, the Vee.Finance team noticed multiple abnormal transfers. After further monitoring, a total of 8804.7 ETH and 213.93 BTC were stolen (total Worth more than 35 million U.S. dollars). The attacker's address is: 0xeeeE458C3a5eaAfcFd68681D405FB55Ef80595BA. After investigation, the suspected attacker launched the attack through the above address and has obtained the stolen assets from this address. In order to ensure the safety of more users' assets, the team has suspended the platform contract and suspended the deposit and withdrawal functions. The stablecoin part is not affected by this attack.