Venus governance token XVS dropped more than 9% after an exploit in the Thena market left Venus with about $2.15 million in bad debt. An attacker — partly funded by 7,400 ETH withdrawn from Tornado Cash — accumulated THE over nine months, donated >36 million THE to the vTHE contract to bypass cap checks and inflate THE’s exchange rate ~3.8x, then used THE as collateral to borrow and buy more THE. THE rose from ~$0.26 to ~$0.56 before the attacker sold, triggering a >17% drop and liquidations. Analysis estimates the attacker withdrew roughly $3.7–$5.8 million (including tokenized bitcoin, BNB and stablecoins). Damage was largely confined to THE and, to a lesser extent, CAKE; no user funds were lost outside affected pools. Venus paused THE borrows/withdrawals, set THE’s collateral value to zero, tightened at-risk markets, said oracles continued working, and governance may consider covering losses via the risk fund. Venus said this was not a flash-loan attack.#BNB_Market_Update
BNB
608.58
-1.23%
XVS
2.58
-1.14%
ETH
1,994.32
-0.84%