Software vulnerabilities pose critical security threats, with nearly 50,000 CVEs reported in 2025. While Large Language Models (LLMs) show promise for automated vulnerability detection, three key challenges remain. First, LLM-generated vulnerability reports suffer from high false positive rates and lack reproducible verification. Second, existing LLM-based approaches use suboptimal granularities for vulnerability localization: function-level analysis overlooks bugs when context becomes extensive, while line-level analysis lacks sufficient context. Third, existing approaches have difficulty reasoning about vulnerabilities with complex cross-function dependencies and triggering conditions. We present FuzzingBrain V2, a multi-agent system that addresses these gaps through four key contributions: (1) fully automated vulnerability analysis built on Google's OSS-Fuzz, ensuring all reported vulnerabilities are fuzzer-reproducible; (2) Suspicious Point, a novel control-flow-based abstraction for precise vulnerability localization at the optimal granularity; (3) logic-driven hierarchical function analysis with dual-layer fuzzing enhancing function coverage under resource constraints; (4) MCP-based static and dynamic analysis tools with context engineering enhancing complex vulnerability reasoning. On the AIxCC 2025 Final Competition C/C++ dataset, FuzzingBrain V2 achieved 90% detection rate (36 of 40 vulnerabilities). In real-world deployment, FuzzingBrain V2 discovered 29 zero-day vulnerabilities across 12 open-source projects, all confirmed and fixed by maintainers, with 2 assigned CVE IDs.