The Venus Protocol, one of the largest lending platforms in the BNB chain, was struck by a suspected exploitation on Tuesday with the attacks that seemed to have dragged an estimated $ 27 million worth of ownership.
On-chain sleuths said they suspect that the protocol’s core pool contract was updated to a malicious address, which then stopped tokens including VUSDC and Veth.
Security teams monitor stolen properties and the Venus community has not yet issued an official statement.
The funds remain in the attacking contract and have not been replaced, leaving open questions about whether exploitation will change a full cash-out.
Venus acts as a currency market in the BNB chain, which allows users to deposit properties such as stablecoins and major tokens to earn interest, while lenders post collateral to take loans.
Native token, XVS, play a role in management and incentive protocol. At its peak, Venus will be held by more than $ 7 billion in properties, making it a major part of the BNB chain’s defi ecosystem.
(This is a storytelling.)
