Venus Protocol Halts Thena Token Trading Amid $3.7M Loss
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Venus Protocol, a decentralized lending platform, faces a significant security breach involving suspicious trading in its Thena token liquidity pool. The incident, which also affected Cake token pools from PancakeSwap, resulted in over $3.7 million in losses. The platform has paused borrowing and withdrawals for Thena and other low-liquidity tokens. The Thena token price dropped by over 17% in the last day, impacting traders. Venus is currently investigating the issue and plans to lift the pauses once the situation is resolved. This incident comes amid a decrease in large-scale crypto hacks but an increase in scams like phishing, highlighting new risks in the crypto space.
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