Venus Protocol Suffers Suspected Flash Loan Exploit, Attacker Nets Over $3.7 Million in BTC, CAKE and BNB

Venus Protocol was targeted in a suspected flash loan exploit in which address 0x1a35…6231 obtained approximately 20 BTC, 1.5 million CAKE and 200 BNB worth over $3.7 million, on-chain data show. The attacker allegedly used a large amount of THE as collateral on Venus to borrow CAKE, BTCB and BNB before withdrawing the funds. Tens of millions of THE tokens pledged as collateral are currently undergoing liquidation, on-chain data show.