Venus Protocol Restores Full Functionality Following Resolution of $27 Million Exploit

Incident Overview: Venus Protocol resumed operations after a phishing exploit led to a temporary suspension of withdrawals and liquidations, during which $27 million in digital assets were compromised. The platform quickly identified the suspicious activity and paused services to limit losses.

Restoration Plan: The community approved a four-stage restoration plan, which included partial service restoration, recovery of stolen funds, a full security review, and the resumption of all services. By the end of the day, Venus confirmed that all operations had been fully restored.

Phishing Attack Details: The exploit was initiated through a phishing scam that tricked a user into approving a malicious transaction, allowing the attacker to access their funds. Venus's rapid response prevented the stolen assets from being moved out of the attacker's wallet.

Future Actions: Venus Protocol plans to publish a full post-mortem of the incident after completing its investigations and expressed gratitude to its users for their trust and patience during the crisis. The platform emphasized its commitment to user security and community integrity.