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Phished Crypto Address Liquidated for $3.44 Million in Venus Positions

Address 0x5636, previously involved in a $13 million Venus phishing incident, faced liquidation of vBNB and vUSDT holdings totaling $3.44 million.

ETH

Summary

PeckShield reported that Ethereum address 0x5636, which previously fell victim to a $13 million Venus phishing attack and later recovered its funds, has been liquidated for $3.44 million in vBNB and vUSDT holdings. The liquidation occurred on the Venus decentralized finance platform.

Terms & Concepts
  • Liquidation: The forced closure of a trader’s leveraged positions when collateral falls below required maintenance margins, often resulting in losses.
  • vBNB: A tokenized representation of Binance Coin (BNB) used within the Venus protocol, allowing users to earn interest or borrow against it.
  • vUSDT: A tokenized version of the USDT stablecoin in the Venus protocol, enabling lending and borrowing functionalities.