Venus Protocol, one of the BNB chain’s biggest lending platforms, appears to have been suspected of exploitation on Tuesday, with attackers appearing to be emitting an estimated $27 million worth of assets.
On-Chain Thruth said it suspects the protocol’s Core Pool Director’s contract has been updated to a malicious address and sucked up tokens containing VUSDC and Veth.
The security team is tracking stolen assets, and the Venus community has not yet issued an official statement.
The funds remain in the attacker’s contract and have not been exchanged yet, leaving behind unresolved questions about whether the exploit will evolve into a full-fledged cash-out.
Venus acts as a money market for the BNB chain, allowing users to earn interest by depositing assets such as Stablecoins and major tokens.
Its native token, XVS, plays a role in governance and protocol incentives. At its peak, Venus owns more than $7 billion in assets, making it a central part of the BNB chain’s Defi ecosystem.
(This is a developmental story.)
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