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WE-Launch
Venus Initiates Emergency Vote: Security Recovery Protocol and User Funds Recoupment
BlockBeats News, September 3rd: Venus Protocol has released an emergency vote in response to a security incident where users fell victim to a phishing attack, prompting the protocol to swiftly pause to protect asset safety. The team has proposed a partial protocol recovery to adjust positions and prevent liquidation, along with a forced liquidation of the attacker's wallet. The protocol will be fully restored once the security review is completed.
The vote includes:
- Partial recovery of the Venus Protocol within 5 hours (enabling debt repayment/supply of funds);
- Recovery of stolen funds within 7 hours;
- Security review of Venus within 24 hours to prevent any other users from being subjected to similar attacks.
Full recovery of Venus - Updates and timelines will be announced separately.
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