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VerifiedX Ships Vault Update Aimed at Stopping Hacked vBTC Transfers
The layer 1 network says owners can set their own delay before a transfer settles; the announcement comes a week after attackers took over 18,000 BTC from Binance.
Dextape brief
VerifiedX has released an upgraded build of its recovery Vaults alongside its Mainnet 9.0.0 upgrade, according to a press release. The Vaults let owners of vBTC, a token the firm describes as self-custodial, reclaim a transfer that was misdirected or stolen before it becomes final. The timing follows the October 29 Binance hack, which blockchain analytics firm TRM Labs said drained about $6.4 billion across ten chains, with roughly $2.7 billion frozen by Tether, Circle and others. TRM tied the theft to North Korea's TraderTraitor group. The announcement avoids naming Binance but refers to that record incident. Owners set how long a transfer waits, and during that window it can be redirected to a backup address they control. The company credits network consensus, rather than any custodian, with enforcing the process.
Why it matters: It introduces a cooling-off window for bitcoin-pegged transfers, aimed at limiting losses from funds that cannot be frozen once moved.
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Terms in this story
- Layer 1
- A base blockchain that settles its own transactions and secures itself, such as Bitcoin, Ethereum or Solana.
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