An address that received 7,400 ETH from Tornado (hacker?) dominated tonight's CAKE and THE collateral liquidation event.
This led to Venus generating approximately $2.15 million in liquidation losses (1.18 million CAKE + 1.84 million THE), while the hacker obtained about $5.07 million in funds from Venus (2,172 BNB + 1.516 million CAKE + 20 BTC).

1. First, he received 7,400 ETH from Tornado through the address 0x7a7...234, then deposited it into Aave as collateral to borrow 9.92 million U (including USDT, DAI, USDC) and then transferred it to multiple wallets to purchase THE.
Address: 0x7a79969a0b9d51d922c4810d2950560360f6f234

2. Around 8 PM tonight, he likely pumped the price of THE in CEX (he probably had previously deployed long positions). Then he deposited 36.1 million THE into Venus through 2 wallets, borrowing assets like BTC, BNB, CAKE, etc.
Addresses:
0x737bc98f1d34e19539c074b8ad1169d5d45da619
0x1a35bd28efd46cfc46c2136f878777d69ae16231

3. 40 minutes later, the price of THE plummeted (likely due to his closing long positions with shorts), and his collateral on Venus was liquidated, further pushing down the price of THE. Ultimately, the collateral from these two wallets was completely liquidated, but there remained approximately $2.15 million (1.18 million CAKE + 1.84 million THE) in loans that had not yet been repaid, becoming a loss for Venus.

Overall, he borrowed 9.92 million U to create chaos, but the assets borrowed from Venus were only worth $5.07 million. While it may not appear profitable on-chain, I suspect he aimed to dominate the decline of THE via on-chain liquidation to profit from his positions in CEX.