Venus Protocol’s Token Crashes Over 12 Amidst Exploit Claims

Venus Protocol, a prominent lending market on the BNB Chain, has denied allegations of a major security breach over the past weekend.

These speculations initially suggested a $54 billion exploit, as blockchain security firm SlowMist reported.

Venus Protocol Refutes Claims of Major Exploit

Brad Harrison, the Head of Venus Labs, addressed these concerns on December 10 through a post on X.

Some facts:

Binance Oracle, which supports the asset of snBNB in the *isolated* pool reported a wrong price resulting in about $200k of borrows. This is the only reported issue.

This user is associated with a Binance account.

There’s no issue with the core pool or otherwise.

— Brad