DeFi shocks: Venus Protocol and Bunni DEX lose over 21 million USD due to hackers

On September 2, the DeFi market was shaken when #VenusProtocol and #BunniDex simultaneously encountered security issues, causing a loss of over 21 million USD.

Venus Protocol – a major lending platform on $BNB Chain – was forced to suspend operations after a "whale" was phished, losing about 13.5 million USD in assets (vUSDT, vUSDC, vWETH, vFDUSD). PeckShield and CertiK reported that the victim mistakenly signed a transaction granting the hacker permission. Venus confirmed that the smart contract is still safe and quickly implemented an emergency procedure. Notably, the protocol forced liquidation of the hacker's wallet to recover the entire amount, allowing operations to resume in just a few hours. The initial price of XVS dropped sharply but quickly recovered around 6 USD.

Meanwhile, Bunni DEX was hacked multichain, suffering losses of about 8.4 million USD from the USDC/USDT pool on Ethereum and ETH/weETH on #Unichain . The entire smart contract was temporarily halted for investigation, involving several major security companies. To date, the cause and remedy have not yet been announced, causing the BUNNI token to plummet over 42% in just 24 hours.

This double incident highlights the significant security risks in DeFi, even with top-tier projects. Investors need to be vigilant against phishing and smart contract vulnerabilities.

⛔ Risk warning: The hacking incidents show that DeFi always carries the risk of significant losses. Investors should carefully consider before participating and only invest within their risk tolerance.