Sui-Based Volo Protocol Hit by $3.5M Exploit, Freezes Vaults to Contain Damage

💔 Volo Protocol experienced a security breach resulting in a loss of approximately $3.5 million from three vaults containing WBTC, XAUm, and USDC.

🔒 The team has frozen all vaults and is collaborating with the Sui Foundation and on-chain investigators to recover the stolen funds while ensuring the remaining $28 million in assets remain secure.

🚨 This incident is part of a larger trend of DeFi exploits in April, with significant losses reported across various platforms, highlighting ongoing vulnerabilities in the crypto space.