Let’s further consider the logical possibilities of Venus Protocol being attacked: 1) Security experts say that some big investors were phished. Conventional wisdom suggests that they could just withdraw funds directly with the private key. How could there be a flash loan? Most likely, the hacker obtained updateDelegate authorization through social engineering, gaining access to the account of a large investor, but without immediate liquidity to withdraw. In layman's terms, the hacker obtained the authority, but the large investor only had collateral, not the borrowed funds. The hacker had to find a way to obtain the collateral of the large investor. 2) Is it that the individual phishing incidents involving the major investor have nothing to do with the Venus contract? As mentioned earlier, if the hacker discovered that the major investor's account had no liquidity, their efforts would normally be in vain. But why was it possible to withdraw collateral through a simple flash loan attack? The answer lies in the Venus contract mechanism. The hacker may have used flash loans and a series of vToken cross-platform exchange rate differences to help the major investor repay the collateral and even withdraw some extra. Simply put, it is true that the collateral of the big investors was stolen, but it is very likely that it will become a bad debt of the Venus contract platform, unless the big investors are stupid enough to pay back the platform. 3) While other users' funds are temporarily safe, the Venus platform faces significant liability concerns. While the attack was triggered by a large investor being phished by a social engineering scheme, the platform ultimately profited. The $30 million stolen is likely to become bad debt for the Venus platform, and coupled with the temporary panic and bank run, the impact could be devastating for Venus. But the greater impact is that this incident has brought back horrific memories of Venus's habitual attacks. The XVS price manipulation incident and its use as a tool for money laundering via BNB's cross-chain bridge are all examples of damage caused by fundamental flaws in Venus's security engineering. As the largest lending protocol on BSC, this is unacceptable. Note: The above is based on reasonable speculation based on the currently disclosed information. The details will be determined based on actual disclosed details.Let’s further consider the logical possibilities of Venus Protocol being attacked: 1) Security experts say that some big investors were phished. Conventional wisdom suggests that they could just withdraw funds directly with the private key. How could there be a flash loan? Most likely, the hacker obtained updateDelegate authorization through social engineering, gaining access to the account of a large investor, but without immediate liquidity to withdraw. In layman's terms, the hacker obtained the authority, but the large investor only had collateral, not the borrowed funds. The hacker had to find a way to obtain the collateral of the large investor. 2) Is it that the individual phishing incidents involving the major investor have nothing to do with the Venus contract? As mentioned earlier, if the hacker discovered that the major investor's account had no liquidity, their efforts would normally be in vain. But why was it possible to withdraw collateral through a simple flash loan attack? The answer lies in the Venus contract mechanism. The hacker may have used flash loans and a series of vToken cross-platform exchange rate differences to help the major investor repay the collateral and even withdraw some extra. Simply put, it is true that the collateral of the big investors was stolen, but it is very likely that it will become a bad debt of the Venus contract platform, unless the big investors are stupid enough to pay back the platform. 3) While other users' funds are temporarily safe, the Venus platform faces significant liability concerns. While the attack was triggered by a large investor being phished by a social engineering scheme, the platform ultimately profited. The $30 million stolen is likely to become bad debt for the Venus platform, and coupled with the temporary panic and bank run, the impact could be devastating for Venus. But the greater impact is that this incident has brought back horrific memories of Venus's habitual attacks. The XVS price manipulation incident and its use as a tool for money laundering via BNB's cross-chain bridge are all examples of damage caused by fundamental flaws in Venus's security engineering. As the largest lending protocol on BSC, this is unacceptable. Note: The above is based on reasonable speculation based on the currently disclosed information. The details will be determined based on actual disclosed details.

Why is it always stolen? On the systemic flaws in Venus contract design

2025/09/03 13:00

Let’s further consider the logical possibilities of Venus Protocol being attacked:

1) Security experts say that some big investors were phished. Conventional wisdom suggests that they could just withdraw funds directly with the private key. How could there be a flash loan?

Most likely, the hacker obtained updateDelegate authorization through social engineering, gaining access to the account of a large investor, but without immediate liquidity to withdraw. In layman's terms, the hacker obtained the authority, but the large investor only had collateral, not the borrowed funds. The hacker had to find a way to obtain the collateral of the large investor.

2) Is it that the individual phishing incidents involving the major investor have nothing to do with the Venus contract? As mentioned earlier, if the hacker discovered that the major investor's account had no liquidity, their efforts would normally be in vain. But why was it possible to withdraw collateral through a simple flash loan attack? The answer lies in the Venus contract mechanism. The hacker may have used flash loans and a series of vToken cross-platform exchange rate differences to help the major investor repay the collateral and even withdraw some extra.

Simply put, it is true that the collateral of the big investors was stolen, but it is very likely that it will become a bad debt of the Venus contract platform, unless the big investors are stupid enough to pay back the platform.

3) While other users' funds are temporarily safe, the Venus platform faces significant liability concerns. While the attack was triggered by a large investor being phished by a social engineering scheme, the platform ultimately profited. The $30 million stolen is likely to become bad debt for the Venus platform, and coupled with the temporary panic and bank run, the impact could be devastating for Venus.

But the greater impact is that this incident has brought back horrific memories of Venus's habitual attacks. The XVS price manipulation incident and its use as a tool for money laundering via BNB's cross-chain bridge are all examples of damage caused by fundamental flaws in Venus's security engineering. As the largest lending protocol on BSC, this is unacceptable. Note: The above is based on reasonable speculation based on the currently disclosed information. The details will be determined based on actual disclosed details.

Piyasa Fırsatı
Binance Coin Logosu
Binance Coin Fiyatı(BNB)
$870.4
$870.4$870.4
-0.70%
USD
Binance Coin (BNB) Canlı Fiyat Grafiği
Sorumluluk Reddi: Bu sitede yeniden yayınlanan makaleler, halka açık platformlardan alınmıştır ve yalnızca bilgilendirme amaçlıdır. MEXC'nin görüşlerini yansıtmayabilir. Tüm hakları telif sahiplerine aittir. Herhangi bir içeriğin üçüncü taraf haklarını ihlal ettiğini düşünüyorsanız, kaldırılması için lütfen service@support.mexc.com ile iletişime geçin. MEXC, içeriğin doğruluğu, eksiksizliği veya güncelliği konusunda hiçbir garanti vermez ve sağlanan bilgilere dayalı olarak alınan herhangi bir eylemden sorumlu değildir. İçerik, finansal, yasal veya diğer profesyonel tavsiye niteliğinde değildir ve MEXC tarafından bir tavsiye veya onay olarak değerlendirilmemelidir.

Ayrıca Şunları da Beğenebilirsiniz

The Channel Factories We’ve Been Waiting For

The Channel Factories We’ve Been Waiting For

The post The Channel Factories We’ve Been Waiting For appeared on BitcoinEthereumNews.com. Visions of future technology are often prescient about the broad strokes while flubbing the details. The tablets in “2001: A Space Odyssey” do indeed look like iPads, but you never see the astronauts paying for subscriptions or wasting hours on Candy Crush.  Channel factories are one vision that arose early in the history of the Lightning Network to address some challenges that Lightning has faced from the beginning. Despite having grown to become Bitcoin’s most successful layer-2 scaling solution, with instant and low-fee payments, Lightning’s scale is limited by its reliance on payment channels. Although Lightning shifts most transactions off-chain, each payment channel still requires an on-chain transaction to open and (usually) another to close. As adoption grows, pressure on the blockchain grows with it. The need for a more scalable approach to managing channels is clear. Channel factories were supposed to meet this need, but where are they? In 2025, subnetworks are emerging that revive the impetus of channel factories with some new details that vastly increase their potential. They are natively interoperable with Lightning and achieve greater scale by allowing a group of participants to open a shared multisig UTXO and create multiple bilateral channels, which reduces the number of on-chain transactions and improves capital efficiency. Achieving greater scale by reducing complexity, Ark and Spark perform the same function as traditional channel factories with new designs and additional capabilities based on shared UTXOs.  Channel Factories 101 Channel factories have been around since the inception of Lightning. A factory is a multiparty contract where multiple users (not just two, as in a Dryja-Poon channel) cooperatively lock funds in a single multisig UTXO. They can open, close and update channels off-chain without updating the blockchain for each operation. Only when participants leave or the factory dissolves is an on-chain transaction…
Paylaş
BitcoinEthereumNews2025/09/18 00:09
Wyoming-based crypto bank Custodia files rehearing petition against Fed

Wyoming-based crypto bank Custodia files rehearing petition against Fed

The post Wyoming-based crypto bank Custodia files rehearing petition against Fed appeared on BitcoinEthereumNews.com. A Wyoming-based crypto bank has filed another
Paylaş
BitcoinEthereumNews2025/12/16 22:06
US economy adds 64,000 jobs in November but unemployment rate climbs to 4.6%

US economy adds 64,000 jobs in November but unemployment rate climbs to 4.6%

The post US economy adds 64,000 jobs in November but unemployment rate climbs to 4.6% appeared on BitcoinEthereumNews.com. The economy moved in two directions at
Paylaş
BitcoinEthereumNews2025/12/16 22:18