Cryptocurrency platform accuses its former employee of stealing $ 350,000

Cryptocurrency exchange Velodrome has accused its former employee and crypto detective Gabagool of stealing $ 350,000.

As it became known from the official statement of Velodrome representatives, the exchange conducted its own investigation into the hacking of one of its wallets and found the hacker involved in the theft of funds. A former employee of the exchange, an anonymous detective named Gabagool, was named as the culprit. According to Velordome representatives, Gabagool gained illegal access to the address where the company’s employees' salary funds were stored.

According to Velordome, the theft did not affect client assets, but among the victims were employees of the exchange, former colleagues of Gabagool. Interestingly, the hacker has become known in the crypto world for his detective work — Gabagool has repeatedly participated in the investigation of cyberattacks and various cryptocurrency scams. At the time of writing, Gabagool has not commented on the allegations against it, unlike law enforcement agencies, which have announced the start of an investigation.

Obviously, the company hopes to recover the lost funds as Binance has recently managed to do. According to Binance CEO Changpeng Zhao, the company has returned most of the funds stolen from Curve Finance, amounting to about $ 450,000.