Venus Protocol has experienced 3 security incidents in the past, with total losses exceeding $100 million

BlockBeats News, September 2nd, data shows that the Venus Protocol has experienced 3 security incidents in the past, with losses exceeding $1 billion. These include:

May 2021, the governance token XVS was subjected to price manipulation, where the attacker borrowed a large amount of BTC/ETH, then collapsed the price leading to liquidation. The protocol incurred bad debt and was unable to recover the loans.

May 13, 2022: During the LUNA oracle vulnerability exploit incident, a Chainlink price feed pause caused a price discrepancy in the LUNA token, and the attacker exploited this vulnerability resulting in a $11.2 million loss.

December 2023, a short-term pricing failure occurred in the Binance Oracle, causing the value of assets in the Venus Protocol snBNB isolated pool to anomalously drop to $240.