The Venus Protocol's $THE market has been exploited, resulting in approximately $2.15 million in bad debt. The attacker, who withdrew 7,400 ETH from TornadoCash a month ago, borrowed $9.9 million to purchase $THE. They then donated 36.1 million $THE directly to the vTHE contract, bypassing the supply cap and inflating the exchange rate by 3.81 times. In the aftermath, Justin Sun, a top five XVS holder, deposited 621,000 XVS, valued at $1.95 million, to HTX Global. Meanwhile, the BNB Bridge Exploiter, ranked as the 16th largest XVS holder, retains 135,000 XVS, approximately worth $421,000.
Venus Protocol Exploit Results in $2.15M Bad Debt
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