Digital Collectibles Marketplace VeVe Loses ‘Large Amount of Gems’ in an Exploit

VeVe, an app-based marketplace for licensed digital collectibles, has announced that it has become a victim of an exploit which resulted in the loss of a number of “gems.”

“We have become aware of an exploit of our systems which resulted in a large amount of gems being acquired illegitimately,” VeVe’s official Twitter account said on early Wednesday morning hours.

Gems are the VeVe in-app token used to exchange for collectibles during drops or in the Market, the website¬†says. The company charges USD 1 for gems, but the total price paid can be affected by the payment method, as well as any additional fees and taxes charged by the users’ credit card provider, bank, or PayPal, it added.

The digital marketplace has halted operations as the result of the hack while the investigation is ongoing, adding that it will announce “the expected timing of Market opening” as soon as possible.

VeVe also detailed that they have restricted accounts of some users as they are launching an investigation. “We will be getting in touch with those users directly,” it added.