VeChain Belt and Road Initiative releases patch to freeze hacker accounts

VeChain helps found the Blockchain Alliance of the Belt and Road Initiative. In response, the VeChain Foundation responded: The Blockchain Alliance of the Belt and Road Initiative and other co-founders are @DNVGL, the research institute of the Belt and Road Initiative by @ Tsinghua_Uni and more. “

The 3rd Forum of the Belt and Road Initiative (BRI) of Tsinghua University took place from December 19, 2019 to December 20, 2019.

VeChain will assist in leveraging blockchain technology for the Blockchain Alliance of BRIBA, The Belt and Road Initiative.

The alliance was formed to gather resources from all members and later affiliated members. They will power BRI infrastructures and business processes using blockchain technology.


The VeChain Foundation recently released a patch to freeze hacker accounts. Approximately 1.1 billion VET tokens in VeChain theft.

VeChain Token (VET) and VeThor (VTHO) are used to make payments on the network. The VeThor is used to execute smart contracts and run applications on the blockchain. The value of the stolen professional education tokens is $ 6.7 million.

Upon proper investigation, theft of the privacy key of the repurchase address while creating the wallet led to the problem. And that was a reason for the hack.

The company continued to establish itself, stating, “We want to emphasize that the incident is in no way related to the effectiveness of the actual standard process or VeChain’s hardware wallet solutions. And the responsible person who does not follow full compliance bears the responsibility and consequences of internal management measures. “


Sunny Lu, VeChain recently stated, “Whatever happened and nothing can stop VeChain from getting to business value.” The blockchain platform is actively involved in the development of real applications for the introduction of business solutions in various sectors around the world. The software and hardware development tools are available in turnkey packages.

When Sunny Lu spoke about the buyback address issue, he admitted that it was a rather unfortunate incident. He stated that they learned from it. As CEO, he vouched for accountability for what had happened. He said that he would focus on improving the internal control systems improvement plan in the future.

Previously, VeVote’s launch envisaged an updated and decentralized governance model that allowed VET holders and relevant shareholders to participate directly in the governance process. VeChain is continuously involved in advancing and developing blockchain technology from a technical consensus to a business consensus. You have gained experience with the introduction of blockchain in relation to real use cases.

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