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Venus Protocol has recovered funds lost in a phishing attack after swift intervention involving a governance vote.<\/p>\n
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Venus Protocol, one of the largest lending platforms on BNB (BNB) Chain, has recovered around $13.5 million lost in a phishing incident. The update<\/a> was shared by the platform on Sept. 3, confirming the assets had been fully restored.<\/p>\n On Sept. 2, a high-value Venus user lost control of assets worth around $13.5 million after approving a malicious transaction. Security firms initially estimated losses of up to $27 million, but they later modified these figures to take the user\u2019s debt position into consideration.\u00a0<\/p>\n Among the stolen assets were wrapped Bitcoin (BTCB), vUSDT, vUSDC, vXRP, and vETH. Notably, this was a user-level compromise rather than a breach of Venus\u2019 smart contracts, demonstrating the ongoing risk of social engineering even in DeFi.<\/p>\n <\/p>\n In order to prevent the attacker from moving funds or closing positions, Venus instantly paused the protocol. The pause stopped the exploiter\u2019s activity and bought time for an emergency governance vote.<\/p>\n By approving the forced liquidation of the attacker\u2019s holdings, the community was able to secure the stolen assets before they could be mixed or bridged.<\/p>\nWhale wallet compromised<\/h2>\n
Swift response and recovery<\/h2>\n