Velvet Capital, a decentralized finance (DeFi) firm specializing in asset management, briefly suspended its website’s operation to thwart a potential phishing attempt. On April 23rd, Velvet Capital’s trading platform exhibited unusual activity, prompting the company to request users’ wallet access unexpectedly while using their services.
Following the results of their internal probes, Velvet Capital recommended that investors refuse all connection requests from the app for their digital wallets until more information is available. For those who may have already granted access to a potentially fraudulent request, it’s important to revoke the wallet permissions to safeguard against any potential financial loss.
HEADS UP: A few users have reported difficulties in accessing the app today. To troubleshoot and resolve the problem, we’ll be temporarily taking down the Velvet front-end for maintenance. We apologize for any inconvenience and appreciate your patience as we work to fix this issue. We will keep you updated with a post-mortem analysis once the situation is resolved.
— Velvet.Capital (@Velvet_Capital) April 23, 2024
Vasily Nikonov, founder of Velvet Capital, notified users through Telegram that the company’s website would be temporarily unavailable. He explained, “Please avoid using the Velvet website at this time. We are currently working on maintenance and resolving an issue. Further updates will be shared once we have more information.”
Approximately two hours past, Nikonov admitted to collaborating with the tech squad and cybersecurity experts in an attempt to reclaim ownership of the compromised site from the hackers. Earlier reports from blockchain investigation companies Blockaid and Scam Sniffer indicated the website breach preceded Velvet Capital’s public declaration.
Individuals who completed any deals on Velvet Capital after April 23, 5:39 a.m. (UTC) could potentially be affected by a cyberattack. A support ticket should be created on Discord and transaction information shared for resolution. Nikonov emphasized that the Velvet Capital smart contracts and associated funds remained unscathed. No reported losses were mentioned before 6:50 a.m. (UTC).
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2024-04-23 13:10