Yesterday a hacker  withdrew 1.1 billion VET tokens from the VeChain Foundation wallet (about $ 6 million).

The hacker cracked a wallet that was involved in the process of buying tokens (buyback). According to the VeChain team, there was a hole in the security system that was formed as a result of unscrupulous actions by one of the team members. He had created the buyback account without following the “Standard Procedure”.

What Is VeChain BuyBack Address?
The buyback address is where the project supporters can send the tokens to get the dollars right from the Foundation. They were accepting the tokens on one address, which is a security breach by itself.

The result: a $ 6 million hack