Decentralized exchange Velodrome identified a former team member responsible for theft of $350,000 from one of the platform’s wallets in August.

Anonymous coder Gabagool, known on Twitter as Gabagool.eth, was involved in the theft, according to DEX representatives.

He gained popularity due to being part of a group of online detectives who regularly expose DeFi scams.

“The Velodrome team has severed its relationship with Gabagool and is working with legal counsel to determine next steps,” the company said.

Reportedly, the incident did not affect user funds.

In a previous interview with The Block, Gabagool said the company was investigating the attack and that the hacked wallet contained funds from which the exchange team was paid.

The crypto detective has yet to comment on the charges against him.

Velodrome presents an implementation of the (3.3) escrow model proposed by Yearn Finance creator Andre Cronje. The project is a fork of Cronje’s Solidly DEX that should run on the Phantom network and(3,3). In July TVL The platform has surpassed $100 million blocked on the Optimism network.

Recall that in early August, unknown persons compromised the front end of the Curve Finance DeFi protocol. As a result, users lost $573,000 worth of assets.

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