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ID:

venus-protocol-892

Date:

Status:

Incident Count:

May 12, 2022

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

No

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Audit By:

Audits:

Certik

Loss Amount:

13,500,000

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Recovered:

-

Rewards:

Currency:

USD

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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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