DeFi protocol Venus seeks to patch $270K hole from oracle incident

Decentralized finance protocol Venus has confirmed it was impacted by an issue with one of its price feed oracles resulting in borrows totaling around $270,000 on Dec. 11, but has downplayed the incident from being an “exploit” as described by analysts, and also vowed to replace funds from the treasury. 

On Dec. 10, reports started emerging that the Binance Chain-based decentralized lending and borrowing marketplace had been affected by a malfunctioning price oracle.

X user ‘@SaulCapital’ alerted followers that the “isolated pool on Venus Protocol for liquid staked BNB got exploited.”

He posted a link to a suspect wallet address involved in the incident, which held just under…

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