According to PeckShieldAlert, Venus’s THE market was exploited, creating about $2.15 million in bad debt after an attacker allegedly manipulated vTHE exchange mechanics using borrowed funds and donated tokens.
THENA had said abnormal price moves in THE were not caused by an attack and that its smart contracts and liquidity pools remained secure while it coordinated with zeroShadow, HypernativeLabs and law enforcement. New information from PeckShieldAlert states that Venus’s THE market was exploited, resulting in about $2.15 million in bad debt. PeckShieldAlert said the attacker withdrew 7,400 ETH from Tornado Cash about a month earlier, borrowed $9.9 million to buy THE, and donated 36.1 million THE to the vTHE contract to bypass the supply cap and increase the exchange rate by 3.81 times.