#attack
🚨 Venus Protocol hacked for $3.7 million: what is known?
Decentralized lending platform Venus Protocol fell victim to a liquidity attack. The attackers exploited a supply cap attack vulnerability in the Thena ($THE ) token pool.
🔍 How did it happen?
According to risk manager Allez Labs, the attack took place in two stages:
1. Accumulation: Hackers accumulated about 84% of the total market capitalization of the THE token.
2. Manipulation: Using THE as collateral, the exploiter borrowed (and actually withdrew) over $3.7 million in assets, including:
• 6.67 million $CAKE
• 1.58 million #USDC
• 2,801 $BNB
• 20 #BTC
🛡️ Venus Protocol Response
The team immediately responded to the suspicious activity:
• All transactions (loans and withdrawals) for the THE token have been suspended.
• Work with other low-liquidity tokens has been restricted to prevent further losses.
• The incident is under investigation.
📉 The market is reacting
Against the background of the news, the price of the THE token has fallen by more than 17% and is currently trading around $0.2255.
