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Binance oracle resolved; markets normal, except snBNB, agEUR, stkBNB.

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Post time 16-12-2023 06:41:03 | Show all posts |Read mode
Venus Protocol posted on the X platform, stating that, based on Chaos Labs' recommendation and due to price feed issues with the Binance oracle on the Isolated LST BNB Pool, the snBNB market and two other markets with similar Binance oracle configurations, "isolated" markets (agEUR, stkBNB), have been temporarily suspended as a precautionary measure. The Venus community will propose injecting a total of approximately $274,000 in liquidity from the treasury into the affected pool today, with funds in the pool being recovered with the support of partners. Other markets are still operating smoothly and remain unaffected.

It's worth noting that the Binance oracle team has identified and fixed the issue and is currently deploying strict preventive temporary measures. Earlier data on the blockchain showed that a user deposited 0.5 BNB into Venus, borrowed a series of assets, including stkBNB, ankrBNB, etc. The user converted them into 116.45 ETH assets and transferred them to another account. In response to the attack on Venus, official personnel stated on Telegram, "The core pool and XVS are fine. The attack was due to a price malfunction in the Binance oracle, involving the BNB price in a small independent pool. The snBNB team is handling it. The cause of the issue has been identified and reported to the Binance oracle team."
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Post time 16-12-2023 11:16:18 | Show all posts
The suggestion is for rational individuals; otherwise, it might be better not to give at all.
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Post time 16-12-2023 11:27:54 | Show all posts
I'm not very interested in such suggestions anymore.
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Post time 16-12-2023 13:08:05 | Show all posts
The suggestion is still to give appropriately; otherwise, it might backfire.
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Post time 16-12-2023 13:14:30 | Show all posts
It's a good thing that the issue has been fixed!
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