How much was lost in the Velar Perps hack?

The Velar Perps hack resulted in $401K in losses on February 19, 2026.

What attack technique was used in the Velar Perps exploit?

The Velar Perps exploit utilized Predictable Oracle Update. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

Velar Perps Hack

TOTAL LOST $401K

Low Feb 19, 2026 Predictable Oracle Update mezo

Affected Chain mezo Incident surface

Recovered - No recovery reported

All-Time Rank #1300 By amount stolen

Year 2026 Incident year

Incident Report

Protocol / Project Velar Perps

Date of Incident February 19, 2026

Affected Chain(s) mezo

Attack Technique Predictable Oracle Update

Classification Oracle Manipulation

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of predictable oracle update and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with mezo smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in Velar Perps's contract logic - root cause: oracle manipulation

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Yes: skilled auditors routinely flag Predictable Oracle Update vulnerabilities in code review

If you're auditing a protocol with similar architecture to Velar Perps, these are the critical security checks that could have prevented this incident (February 2026).

Verify all logic paths related to Predictable Oracle Update are guarded by proper access controls and input validation - see the Oracle Manipulation & Price Manipulation attack class for patterns
Audit oracle price feeds for manipulation risks - ensure time-weighted average prices (TWAPs) or multi-source aggregators are used, not spot prices
Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Related Attack Classes

The technique used in this hack maps to these vulnerability classes in our security curriculum:

See all Oracle Manipulation & Price Manipulation examples →

Oracle Manipulation & Price Manipulation

Threat Assessment

Severity Level

LOW

Attack Vector Predictable Oracle Update
Root Cause Oracle Manipulation
Year 2026

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