Venus Protocol: Suspended THE Borrowing and Withdrawals

Odaily News Venus Protocol announced on the X platform that, in light of the ongoing investigation into abnormal activities in the THE liquidity pool, precautionary measures have been taken to immediately suspend all THE borrowing and withdrawals to prevent any further misuse. This measure will remain in effect until the investigation is concluded. All other markets remain unaffected and will continue to operate normally.

Previous news reported that an address that received 7,400 ETH from Tornado Cash was the primary driver behind the collateral liquidation events for CAKE and THE tonight, resulting in approximately $2.15 million in liquidation shortfalls for Venus (1.18 million CAKE + 1.84 million THE). The hacker obtained approximately $5.07 million in funds from Venus (2,172 BNB + 1.516 million CAKE + 20 BTC).