Venus Protocol Restores Operations After Recovering $27 Million from Exploit
Venus Protocol has resumed operations after suspending withdrawals and liquidations due to a suspected exploit. Key points include:
- The protocol temporarily halted functions following a malicious contract update that drained approximately $27 million.
- Funds have been recovered, and security checks confirmed the front end was not compromised.
- Suspicious transactions were detected from the Core Pool Comptroller contract, directing user assets like vUSDC and vETH to a hacker's wallet.
- Despite assurances about fund safety, Venus' native token, XVS, decreased by 2.69% in 24 hours post-incident.
- A comprehensive post-mortem of the incident will be released later.
Venus emphasized the importance of the pause for securing funds and conducting thorough security assessments.