Venus Protocol Recovers $27M After Exploit, Restores Services

Venus Protocol, a leading lending platform on BNB Chain, has fully resumed operations after suspending withdrawals and liquidations following a $27 million exploit. The breach, triggered by a malicious contract update, drained user assets including vUSDC and vETH before security teams intervened.

On-chain analysts detected suspicious movements from the platform's Core Pool Comptroller contract, which routed funds to an attacker's wallet. Venus confirmed the recovery of stolen assets after implementing emergency measures. "The pause was necessary not just to secure the phished funds, but to conduct full security checks," the protocol stated.

Despite assurances of fund safety, Venus' native XVS token remains down 2.69% following Tuesday's sell-off. The team plans to release a full post-mortem while acknowledging community support during what it called a "critical moment" for the platform.