Venus Protocol, a significant lending platform on BNB Chain, stated it totally restored operations after suspending withdrawals and liquidations in response to a suspected exploit on Tuesday.
The protocol confirmed on Wednesday that misplaced funds had been recovered and that the pause allowed safety groups to finish full checks to make sure its entrance finish was not compromised.
The incident, which stemmed from a malicious contract replace that drained an estimated $27 million, prompted Venus to halt key features whereas investigating.
Replace: Venus Protocol has been totally restored (withdrawals and liquidations resumed) as of 9:58PM UTC. ✅
The misplaced funds have been recovered beneath Venus’ safety. ✅ https://t.co/y2uUwPqmtb
— Venus Protocol (@VenusProtocol) September 2, 2025
On-chain sleuths had initially flagged suspicious actions from the platform’s Core Pool Comptroller contract, which appeared to route person property together with vUSDC and vETH to the hacker’s pockets.
Regardless of the platform’s reassurance that funds are protected, Venus’ native token, XVS, stays down 2.69% over the previous 24 hours, following a sell-off on Tuesday.
Venus stated it would launch a full autopsy of the incident in the end whereas expressing its gratitude to the neighborhood for assist throughout a “essential second” on X.
It emphasised that the pause was “vital not simply to safe the phished funds, however to conduct full safety checks.”
