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Detail Analysis

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Date:

Status:

Count:

Contributor:

May 12, 2022

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Verified

1

zerofriction.io

Loss Amount:

13,500,000

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Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

Certik

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Venus protocol is a decentralized Money Market & Stablecoin on BSC.

Chainlink paused the LUNA price oracle and that specific action placed the price feed out of sync, allowing several attackers to deposit millions of LUNA which is still worth $0.10 while the market price was $0.01 to borrow all the collateral.

Subsequently, Venus Protocol has set th the price feed for LUNA temporarily to 0 using OracleAdmin via multisig. The Dev Team has a Risk Fund that will be utilized to remedy the shortfall that resulted from this event.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.