Venus Protocol Restores Services, Recovers Stolen Funds After $27M Exploit

Venus Protocol, a major lending platform on BNB Chain, said it fully restored operations after suspending withdrawals and liquidations in response to a suspected exploit on ￰0￱ protocol confirmed on Wednesday that lost funds had been recovered and that the pause allowed security teams to complete full checks to ensure its front end was not ￰1￱ incident, which stemmed from a malicious contract update that drained an estimated $27 million , prompted Venus to halt key functions while investigating. On-chain sleuths had initially flagged suspicious movements from the platform’s Core Pool Comptroller contract, which seemed to route user assets including vUSDC and vETH to the hacker's ￰2￱ the platform’s reassurance that funds are safe, Venus’ native token, XVS, remains down 2.69% over the past 24 hours, following a sell-off on ￰3￱ said it will release a full post-mortem of the incident in due course while expressing its gratitud e to the community for support during a "critical moment" on ￰4￱ emphasized that the pause was “necessary not just to secure the phished funds, but to conduct full security checks.”