🚨Breaking:


Venus Protocol suspected to suffer a ~$3.7M exploit.
Here’s what happened:
• Attacker used illiquid token $THE as collateral
• Borrowed BTCB, CAKE, and BNB
• Extracted ~20 BTC, 1.5M CAKE, and 200 BNB
• Total value exceeds $3.7M
Venus says:
• only $THE and $CAKE markets affected
• investigation ongoing
Meanwhile:
• tens of millions of $THE are being liquidated
The exploit likely involved collateral manipulation using illiquid assets.
BTC1,14%
CAKE4,84%
BNB0,88%
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