Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.
Venus Protocol issued a statement saying that Chainlink’s suspension of LUNA price updates after extreme volatility in LUNA prices caused the price of LUNA on the Venus lending market to remain at $0.107, while the market price of LUNA had dropped to $0.01 at that time. After the price update was suspended, two addresses lent about $13.5 million in assets by staking 230 million LUNA (worth about $2.3 million at the time), resulting in a loss of about $11.2 million to the protocol. At present, the LUNA lending market has been suspended, and this loss will be made up by the risk fund. Attack method (per SlowMist): Oracle Attack. Reported loss: $ 11,200,000.
- chain
- —
- protocol
- Venus Protocol
- bug_class
- oracle
- date_occurred
- 2022-05-12
- loss_usd
- $11,200,000
- source_id
- sm:venus-protocol::2022-05-12