Venus Protocol plunges 12% following false report of hack attack
An error on the Binance Oracle application has led to false reports of Venus Protocol’s hack, resulting in an 11.5% drop of XVS price. Brad Harrison, Head of Venus Labs, took to X on Dec. 10, 2023, to explain that reports of Venus Protocol‘s exploit are inaccurate as Binance Oracle, a decentralized app that helps smart contracts access data outside a blockchain, reported a wrong price “resulting in about $200,000 of borrows.” Some facts: Binance Oracle, which supports the asset of snBNB in the *isolated* pool reported a wrong price resulting in about $200k of borrows. This is the only reported issue. This user is associated with a Binance account. There's no issue with the core pool or otherwise. — Brad 🫀/acc (@bradherenow) December 10, 2023 Harrison noted that “no other pools were affected,” adding the Venus team will “look ahead to enhance the security on isolated pools by adding support for price resilience.” The state...