Venus Protocol, a larger lending platform on the BNB chain, said the fully recovered operations after suspending payments and liquidations in response to a suspected utilization on Tuesday.
The protocol confirmed on Wednesday that lost funds had been recovered and that the break allowed security teams to complete full control to ensure that its front end was not compromised.
The incident that came from a malicious contract update that drained estimated $ 27 million caused Venus to stop key features while investigating.
Update: The Venus Protocol has been fully restored (withdrawal and liquidations resumed) from 1 p.m. 9:58 UTC. ✅
The lost funds have been recovered under the protection of Venus. ✅ https://t.co/y2uuwpqmtb
– Venus Protocol (@venusprotocol) September 2, 2025
On-Chain Sleuths had originally marked suspicious movements from the platform’s core pool controller contract, which seemed to route user assets, including VUSDC and Veth to the hacker’s wallet.
Despite the platform’s insurance that the funds are safe, Venus’ native token, XVS, remains down 2.69% over the last 24 hours after a sale on Tuesday.
Venus said it will release a full post-mortar of the incident over time, while expressing his gratitude to society for support in a “critical moment” on X.
It emphasized that the break was “necessary not only to ensure the phished funds, but to carry out full security check.”
