Venus Protocol Suffers $2M Bad Debt Following Exploit Involving Thena's THE Token
Venus Protocol Suffers $2M Bad Debt Following Exploit Involving Thena's THE Token
The Venus Protocol has incurred approximately $2 million in bad debt after an exploit manipulated the price of Thena's THE token. The attack reportedly utilized a donation mechanism to bypass Venus's supply cap, drawing parallels to the notorious Mango Markets exploit of 2022.
The attack used a donation mechanism to bypass Venus's supply cap, a similar mechanism to the infamous Mango Markets exploit in 2022.