Venus Protocol Reportedly Attacked With Potential Losses of $30 Million
Following reports of a potential $30 million attack on the DeFi protocol, its native token XVS plunged over 7% to $5.95, reflecting immediate market concern over the alleged security breach.
Summary
On September 2nd, reports emerged of a potential $30 million attack on the Venus protocol. In response to the news, the protocol's native token, XVS, experienced a sharp price drop of over 7%, falling to $5.95, according to market data.
Terms & Concepts
- Venus Protocol: A decentralized finance (DeFi) lending and borrowing protocol built on the BNB Chain, allowing users to supply collateral, earn interest, and borrow assets.
- XVS: The native governance and utility token of the Venus Protocol, which saw its price drop following reports of a potential attack.