Wombat Exchange Alerts Community About Velocore’s Design Copying

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Wombat Exchange announced on October 21 through social media platform X that the decentralized exchange (DEX) Velocore has improperly copied Wombat’s design on the ZKsync network. Wombat cautioned the community to remain vigilant regarding this issue. They highlighted the potential risks posed by such unauthorized copies and emphasized the importance of users conducting their own research.

Wombat Calls to Community

In its statement, Wombat urged community members to be cautious about the situation. The platform noted that Velocore had used its design without permission, warning that such copies could lead to security vulnerabilities. Wombat encouraged the community to stay informed and remain alert to potential risks while conducting their own investigations.

Additionally, Wombat asked community members to retweet the announcement and alert other users. This statement garnered significant attention from the community and quickly reached a large audience. Community members had to be cautious about how they would respond to Velocore’s actions.

Velocore Responds

Velocore did not take long to respond to Wombat Exchange’s announcement. In their statement, Velocore admitted to using Wombat’s mathematical formula but asserted that it was not a copy. Velocore officials stated, “We referred to Wombat’s formula as ‘Wombat style’ for easier understanding. However, Wombat was not the first to use this formula.” They also clarified that a recent issue was unrelated to the situation Wombat mentioned.

Despite the copying allegations, Velocore claimed that there were no issues with stablecoin pools in their projects and that everything was functioning smoothly in other aspects. However, this response elicited mixed reactions within the Wombat community, with many finding Velocore’s defense inadequate and continuing to monitor the situation closely.

The exchange of statements between Velocore and Wombat Exchange sparked discussions among users, bringing security and originality concerns in ZKsync network projects back into focus.

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