Overview

• Venus said it temporarily suspended the platform and launched an investigation after on-chain alerts flagged the drain of a single wallet.
• The stolen assets were reported as $19.8 million in vUSDT, $7.15 million in vUSDC, plus smaller amounts of vXRP, vETH and 285 BTCB on BNB Chain.
• PeckShield said the victim approved a malicious transaction that granted the attacker’s address (0x7fd8…202a) permission to move the funds.
• Cyvers reported the assets remain in the attacker’s contract and unswapped, while SlowMist’s founder suggested the true loss could be lower and raised possibilities such as a hijacked frontend or poisoning attack.
• XVS fell about 6% on the news with a sharp jump in trading volume as traders reacted to the incident.