Last week, Coinfomania reported that the suspected hackers who stole approximately 1.1 billion vocational training tokens (approximately $ 6,380,000) from the VeChain Foundation buyback address may be following the community’s efforts to erase its remaining loot from existence have almost nothing left.
On Monday, the foundation confirmed in an announcement that the VeChain community unanimously voted in favor of the move.
In other words, a new update to the VeChainThor Blockchain Core Node Program will include the implementation of the community’s decision to permanently destroy the 727 million VET tokens still related to the theft earlier this month.
That would mean the thief’s prey would only be the roughly 373 million vocational training stamps (valued at around $ 2.2 million) they were able to cover up before the move was discovered.
Today’s announcement by the foundation read:
The distribution of the votes is as follows: 99.06% of those entitled to vote agree to the permanent implementation of the blacklist, 0.94% disagree.
Thus, the 469 contaminated addresses that contain the stolen tokens would be referred to as burn addresses, making the 727 million tokens permanently non-existent. If the upgrade is implemented, the total amount of VeChain tokens will be reduced from the current 86,712,634,466 VET to approx. 85,985,634,466 tokens.
VeChain (VET) price campaign – down
Navigating tough times like that of the VeChain project after the theft without drastically affecting the value of the associated cryptocurrency is undoubtedly an accomplishment that would cheer the project community.
At the time of writing, VET exchanged hands for $ 0.00056 per coin, a significant increase from the $ 0.0047 drop seen four days after the tragedy.
The VET had a market cap of just over $ 310 million at press time and was the 28th largest cryptocurrency according to Coinmarketcap.
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