Phishing attack on Venus Protocol user, funds recovered
16:15 ▪ 5 min read
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One of the biggest downsides of cryptocurrencies is their susceptibility to scams and fraud, and in a recent incident, a BNB whale lost $13.5 million in a phishing attack—an episode that briefly fueled fears of a larger hack on the protocol before it was confirmed to be an isolated case.
In summary
A BNB whale lost $13.5M in a phishing attack targeting their account on Venus Protocol.
Danny Cooper stated that ZeroShadow linked the attack pattern to North Korean hackers.
Venus resumed operations and withdrawals after recovering the stolen funds.
Phishing attack and response from Venus Protocol
The victim in this case was a large user of Venus Protocol, a decentralized finance lending platform. The individual's account was drained of approximately $13.5 million after they unknowingly signed a malicious transaction. In doing so, they gave the attacker permission to access and transfer their tokens.
In response, Venus temporarily paused its operations and stayed in direct contact with the victim while efforts were made to recover the funds. The team emphasized that the protocol itself had not been exploited and explained that the pause was necessary—resuming operations too soon could have allowed the attacker to claim the victim's assets.
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