{ "id": 63440, "date": "2026-03-16T09:35:24", "date_gmt": "2026-03-16T02:35:24", "guid": { "rendered": "https:\/\/hbbgroup.net\/venus-protocol-hit-by-3-7m-in-supply-cap-attack\/" }, "modified": "2026-03-16T09:35:24", "modified_gmt": "2026-03-16T02:35:24", "slug": "venus-protocol-hit-by-3-7m-in-supply-cap-attack", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/venus-protocol-hit-by-3-7m-in-supply-cap-attack\/", "title": { "rendered": "Venus Protocol hit by $3.7M in ‘supply cap’ attack" }, "content": { "rendered": "
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Venus Protocol, a decentralized lending and borrowing platform, said on Sunday it had detected suspicious trading activity in the liquidity pool for the Thena (THE) token, the native cryptocurrency of the Thena decentralized finance platform.<\/p>\n

The unusual trading activity only affected pools for the Cake (CAKE<\/a>) token, the native cryptocurrency of the PancakeSwap decentralized exchange, and the Thena token, according to an announcement from Venus Protocol. The Venus team said<\/a>:<\/p>\n

\u201cAs we continue to investigate the unusual activity in the THE pool, we are taking precautionary action by pausing all THE borrows and withdrawals effective immediately, to prevent any further misuse. This will remain in effect until the investigation is concluded.\u201d<\/p><\/blockquote>\n

\"Cybersecurity,
Source: <\/em>Venus Protocol<\/em><\/a><\/figcaption><\/figure>\n
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The suspicious trading activity is suspected to be a supply cap attack that was executed in two phases: a steady accumulation of about 84% of the total THE token market cap, coupled with a lending attack, according<\/a> Allez Labs, which was identified by Venus Protocol as its risk manager.<\/p>\n

The Venus exploiter used the Theta token as collateral to borrow 6.67 million CAKE tokens, 1.58 million USDC (USDC<\/a>), 2,801 BNB (BNB<\/a>) \u2014 the native token of the BNB chain \u2014 and 20 Bitcoin (BTC<\/a>), Allez Labs said.\u00a0<\/p>\n<\/div>\n

Out of caution, withdrawals and borrowing for other tokens, which have low liquidity on the platform, were also temporarily halted, Allez Labs said. The total amount lost in the attack is now over $3.7 million, according<\/a> to Wu Blockchain.\u00a0<\/p>\n

At the time of publication, THE was trading at $0.2255 apiece, down more than 17% in the last 24 hours, according<\/a> to pricing data on CoinMarketCap.com.<\/p>\n

\"Cybersecurity,
Source: <\/em>Allez Labs<\/em><\/a><\/figcaption><\/figure>\n
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Cointelegraph reached out to Venus Protocol but did not obtain a response by the time of publication.<\/p>\n

The incident highlights the cybersecurity and code exploit threats faced by crypto users and decentralized finance platforms, as the sector grows and security threats that cause financial loss<\/a> become increasingly sophisticated.<\/p>\n<\/div>\n

Related: <\/strong><\/em>February crypto losses hit lowest level since March 2025, says PeckShield<\/strong><\/em><\/a><\/p>\n

Monthly crypto losses from hacks fall in February, as attackers pivot to social engineering scams<\/h2>\n

The value lost in crypto-related hacks fell to $49 million<\/a> in February, the lowest level in nearly a year, according<\/a> to blockchain security firm PeckShield.<\/p>\n

Despite the reduction in total value lost to hacks and code exploits during February, there was an uptick in phishing and social engineering scams<\/a>.<\/p>\n

\"Cybersecurity,
Most impactful losses from crypto scams and hacks in February 2026. Source: <\/em>Nominis<\/em><\/a><\/figcaption><\/figure>\n

\u201cThe majority of individual attacks targeted private users through phishing attacks, malicious signatures, and address poisoning scams,\u201d according to a report<\/a> from blockchain intelligence platform Nominis.<\/p>\n

Phishing scams often use fake websites, which feature addresses that are nearly identical to legitimate domain names. These fraudulent websites have malware designed to steal private keys for cryptocurrencies or other sensitive information.<\/p>\n

Magazine: <\/strong><\/em>\u2018SEAL 911\u2019 team of white hats formed to fight crypto hacks in real time<\/strong><\/em><\/a><\/p>\n