The post Venus Protocol User Loses $27M in Phishing Attack, Platform Pauses Operations appeared first on Coinpedia Fintech News DeFi platforms are under increasing pressure as hackers find new ways to exploit vulnerabilities. Recent incidents have sent shockwaves through the crypto community, raising concerns about security and user safety. Venus Protocol Account Loses $27M A major account on the Venus Protocol, a leading lending platform on the BNB Chain, was compromised, losing about $27 …The post Venus Protocol User Loses $27M in Phishing Attack, Platform Pauses Operations appeared first on Coinpedia Fintech News DeFi platforms are under increasing pressure as hackers find new ways to exploit vulnerabilities. Recent incidents have sent shockwaves through the crypto community, raising concerns about security and user safety. Venus Protocol Account Loses $27M A major account on the Venus Protocol, a leading lending platform on the BNB Chain, was compromised, losing about $27 …

Venus Protocol User Loses $27M in Phishing Attack, Platform Pauses Operations

Venus Protocol

The post Venus Protocol User Loses $27M in Phishing Attack, Platform Pauses Operations appeared first on Coinpedia Fintech News

DeFi platforms are under increasing pressure as hackers find new ways to exploit vulnerabilities. Recent incidents have sent shockwaves through the crypto community, raising concerns about security and user safety.

Venus Protocol Account Loses $27M

A major account on the Venus Protocol, a leading lending platform on the BNB Chain, was compromised, losing about $27 million in a hack. Blockchain analysts believe the user’s interaction with the Core Pool Comptroller contract allowed attackers to steal tokens like vUSDC and vETH.

The stolen funds from Venus Protocol are still stuck in the attacker’s contract. Blockchain security firms Cyvers Alerts and Peckshield flagged the suspicious activity.

$27M Drained in Social Engineering Attack

The victim unknowingly approved a malicious transaction, giving the attacker’s wallet full access to their tokens, including $19.8M in vUSDT, $7.15M in vUSDC, $146K in vXRP, $22K in vETH, and even 285 BTCB. 

Crypto Jargon notes that this was purely a social engineering attack, showing how one careless approval can drain a fortune instantly. He emphasized staying safe online by avoiding random links, double-checking transactions, revoking approvals regularly, and using hardware wallets.

Venus Protocol Paused For Precaution

Venus Protocol confirmed that a user’s wallet was drained, but the platform’s smart contracts remain secure. The protocol has been paused as a precaution while the team investigates the incident.

The team also clarified that Venus itself has not been exploited and assured the community that they are actively monitoring the situation. 

Venus’s token XVS has dropped to $5.97, down 6% in the last 24 hours. 

Bunni Exchange Hit by $2.4M Exploit

Meanwhile, decentralized exchange Bunni also suffered a $2.4 million exploit today. Attackers manipulated its Ethereum-based smart contracts, draining funds to a wallet holding $1.33M in USDC and $1.04M in USDT.

All smart contract functions have been paused as a precaution while the team investigates. These two incidents highlight the biggest risks in DeFi: users falling for scams and vulnerabilities in smart contracts.

Crypto hacks have surged in August, with $163 million stolen across 16 attacks. Cybersecurity experts warn that hackers are shifting focus to exchanges and wealthy individuals, signaling rising threats in the booming market.

Market Opportunity
Binance Coin Logo
Binance Coin Price(BNB)
$934.26
$934.26$934.26
-0.36%
USD
Binance Coin (BNB) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

XRP Crowned South Korea’s Most-Traded Crypto of 2025

XRP Crowned South Korea’s Most-Traded Crypto of 2025

XRP Surpasses Bitcoin and Ethereum as South Korea’s Most Traded Crypto in 2025According to renowned market analyst X Finance Bull, XRP dominated South Korea’s crypto
Share
Coinstats2026/01/16 16:54
DeFi Development Corp. expands Solana treasury accelerator

DeFi Development Corp. expands Solana treasury accelerator

Solana-focused DeFi Development Corp. has announced the expansion of its Treasury Accelerator program. Institutional interest in altcoins, including Solana, is rising. On Thursday, September 18, DeFi Development Corp. announced an expansion of its Solana treasury strategy. Notably, the firm will…
Share
Crypto.news2025/09/18 23:30
Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales offload 200 million XRP leaving market uncertainty behind. XRP faces potential collapse as whales drive major price shifts. Is XRP’s future in danger after massive sell-off by whales? XRP’s price has been under intense pressure recently as whales reportedly offloaded a staggering 200 million XRP over the past two weeks. This massive sell-off has raised alarms across the cryptocurrency community, as many wonder if the market is on the brink of collapse or just undergoing a temporary correction. According to crypto analyst Ali (@ali_charts), this surge in whale activity correlates directly with the price fluctuations seen in the past few weeks. XRP experienced a sharp spike in late July and early August, but the price quickly reversed as whales began to sell their holdings in large quantities. The increased volume during this period highlights the intensity of the sell-off, leaving many traders to question the future of XRP’s value. Whales have offloaded around 200 million $XRP in the last two weeks! pic.twitter.com/MiSQPpDwZM — Ali (@ali_charts) September 17, 2025 Also Read: Shiba Inu’s Price Is at a Tipping Point: Will It Break or Crash Soon? Can XRP Recover or Is a Bigger Decline Ahead? As the market absorbs the effects of the whale offload, technical indicators suggest that XRP may be facing a period of consolidation. The Relative Strength Index (RSI), currently sitting at 53.05, signals a neutral market stance, indicating that XRP could move in either direction. This leaves traders uncertain whether the XRP will break above its current resistance levels or continue to fall as more whales sell off their holdings. Source: Tradingview Additionally, the Bollinger Bands, suggest that XRP is nearing the upper limits of its range. This often points to a potential slowdown or pullback in price, further raising concerns about the future direction of the XRP. With the price currently around $3.02, many are questioning whether XRP can regain its footing or if it will continue to decline. The Aftermath of Whale Activity: Is XRP’s Future in Danger? Despite the large sell-off, XRP is not yet showing signs of total collapse. However, the market remains fragile, and the price is likely to remain volatile in the coming days. With whales continuing to influence price movements, many investors are watching closely to see if this trend will reverse or intensify. The coming weeks will be critical for determining whether XRP can stabilize or face further declines. The combination of whale offloading and technical indicators suggest that XRP’s price is at a crossroads. Traders and investors alike are waiting for clear signals to determine if the XRP will bounce back or continue its downward trajectory. Also Read: Metaplanet’s Bold Move: $15M U.S. Subsidiary to Supercharge Bitcoin Strategy The post Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse? appeared first on 36Crypto.
Share
Coinstats2025/09/17 23:42