- The team has severed ties with the attacker following the theft
- The employee, the company said, fessed up, saying he was mentally affected by losing money in the crypto crash
A crypto liquidity marketplace is dealing with the aftermath of an alleged inside job involving stolen funds by one of its own.
Velodrome Finance, a market maker in the Optimism ecosystem, has been trying to pin down what transpired since the firm discovered a sizable chunk of its funds missing about two weeks ago. On Aug. 4, a team-owned wallet used for operational expenses — including salaries — was suddenly compromised to the tune of some $350,000.
The funds have since been recovered.
Velodrome said in a Friday ການປັບປຸງ that the attacker managed to drain the funds before the team could transfer the remaining assets to a treasury multi-signature wallet. While the funds have now been recovered, the team’s identification of the attacker was disturbing.
Representatives for the marketplace identified the culprit as an employee who goes by “Gabagool.” The identity of the staffer, as well as his or her role, was not disclosed.
Source: https://blockworks.co/crypto-marketplace-alleges-350k-stolen-by-insider-gabagool/