- Amount Lost: $77,000,000.00
- Funds Returned: $0.00
- Category: Borrowing and Lending
- Date: 2021-5-18
Quick Summary
The Venus Protocol experienced a massive liquidation event, due to market circumstances and oracle problems
Details of the Exploit
Venus Protocol is an algorithmic-based money market system, that offers lending opportunities on Binance Smart Chain. The project experienced a big liquidation event. In comparison, the 0xef044206db68e40520 bfa82d45419d498b4bc7bf account lost about $66 million in net loss. Liquidators earned around $20 million profit; Sellers made approximately $55 million profit, and Scalpers made approximately $2 million profit.
Due to unpredictable market fluctuations and the lack of deviation controls on oracles, the protocol lost about $77 million.
Block Data Reference
Token address:
https://bscscan.com/address/0xcf6bb5389c92bdda8a3747ddb454cb7a64626c63
Proof Links: