{"id":88096,"date":"2023-12-11T10:44:34","date_gmt":"2023-12-11T08:44:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88096"},"modified":"2025-09-13T15:55:35","modified_gmt":"2025-09-13T12:55:35","slug":"venus-suffers-274000-loss-from-binance-oracle-outage","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/venus-suffers-274000-loss-from-binance-oracle-outage\/","title":{"rendered":"Venus suffers $274,000 loss from Binance oracle outage"},"content":{"rendered":"<p>The developers of Venus&#8217;s lending platform on the BNB Chain reported a failure in the Binance oracle that led to a loss of $274,000. The community will consider a proposal to restore liquidity from the treasury into the affected pool.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Following the <a href=\\\"https:\/\/twitter.com\/chaos_labs?ref_src=twsrc%5Etfw\\\">@chaos_labs<\/a> recommendations and out of an abundance of caution due to today&#8217;s Binance Oracle price feed issue on the Isolated LST BNB Pool, the snBNB market has been temporarily paused along with 2 other *isolated* markets (agEUR, stkBNB) with similar Binance\u2026<\/p>\n<p>\u2014 Venus Protocol (@VenusProtocol) <a href=\\\"https:\/\/twitter.com\/VenusProtocol\/status\/1733934890658263517?ref_src=twsrc%5Etfw\\\">December 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The issue was detected in the LST-BNB pool.<\/p>\n<p>The developers followed Chaos Labs&#8217; recommendations and paused the snBNB, agEUR and stkBNB markets with Binance oracle configurations similar to the affected pool.<\/p>\n<p>Other markets remain fully functional and unaffected, according to the statement.<\/p>\n<p>The exchange team subsequently identified and fixed the outage.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">It is also worth mentioning that the Binance Oracle team has already identified and fixed the issue and this is strictly a precautionary temporary measure.<\/p>\n<p>\u2014 Venus Protocol (@VenusProtocol) <a href=\\\"https:\/\/twitter.com\/VenusProtocol\/status\/1733935739870593303?ref_src=twsrc%5Etfw\\\">December 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier, developers urged not to treat the incident as an exploit, since there were no issues with Venus Core Pool or XVS.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Venus Protocol, the lending protocol on BNBChain, was exploited, according to <a href=\\\"https:\/\/twitter.com\/SlowMist_Team?ref_src=twsrc%5Etfw\\\">@SlowMist_Team<\/a>.<\/p>\n<p>Venus responded: There is no issue with Venus Core Pool or XVS. There is no problem with security either. Binance Oracle had a short-term price issue, asmall lsolated pool experienced a\u2026 <a href=\\\"https:\/\/t.co\/ecimwql79u\\\">pic.twitter.com\/ecimwql79u<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1733878462648406343?ref_src=twsrc%5Etfw\\\">December 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On December 10, user SaulCapital warned followers about problems with one of the pools. He posted a link to a suspicious wallet address involved in the incident.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The isolated pool on <a href=\\\"https:\/\/twitter.com\/VenusProtocol?ref_src=twsrc%5Etfw\\\">@VenusProtocol<\/a> for liquid staked BNB got exploited.<\/p>\n<p>Exploiter: <a href=\\\"https:\/\/t.co\/YyKDVFhfWv\\\">https:\/\/t.co\/YyKDVFhfWv<\/a><br \/>Pool: <a href=\\\"https:\/\/t.co\/liWPjWFp2J\\\">https:\/\/t.co\/liWPjWFp2J<\/a><\/p>\n<p>Other pools don&#8217;t seem to be exploited yet. Not sure if possible to exploit those, but I&#8217;d exit just to be safe. <a href=\\\"https:\/\/t.co\/KzXVRAok4t\\\">pic.twitter.com\/KzXVRAok4t<\/a><\/p>\n<p>\u2014 Saul (@SaulCapital) <a href=\\\"https:\/\/twitter.com\/SaulCapital\/status\/1733851739302805528?ref_src=twsrc%5Etfw\\\">December 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to <a href=\\\"https:\/\/defillama.com\/protocol\/venus\\\">DeFi Llama<\/a>, <span data-descr=\\\"Total value locked\\\" class=\\\"old_tooltip\\\">TVL<\/span> of the project over the last 24 hours fell by $49.8 million to $714.3 million.<\/p>\n<p>The price of Venus&#8217;s utility token over the day fell by 9.9%, to $9.59, according to <a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/venus\\\">CoinGecko<\/a>. At one point the price slid to $9.43.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"556\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/1-858-1024x556.png\\\" alt=\\\"1-858\\\" class=\\\"wp-image-221825\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/1-858-1024x556.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/1-858-300x163.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/1-858-768x417.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/1-858.png 1428w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption class=\\\"wp-element-caption\\\">15-\u043c\u0438\u043d\u0443\u0442\u043d\u044b\u0439 \u0433\u0440\u0430\u0444\u0438\u043a XVS\/USDT \u0431\u0438\u0440\u0436\u0438 Binance. \u0414\u0430\u043d\u043d\u044b\u0435: <a href=\\\"https:\/\/www.tradingview.com\/x\/VSFFyr9T\/\\\">TradingView<\/a>.<br \/><\/figcaption><\/figure>\n<p>Earlier, a wallet linked to the Token Hub bridge heist faced liquidation of three positions on Venus Protocol as BNB slipped below $220, resulting in attacker losses of <a href=\"https:\/\/forklog.com\/en\/news\/bnb-chain-hacker-linked-to-breach-loses-53m-in-liquidations\">5.64 million vBNB<\/a> (~$53.2 million at the time).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The developers of Venus&#8217;s lending platform on the BNB Chain reported a Binance oracle failure that led to a loss of $274,000. The community will consider a proposal to restore liquidity from the treasury into the affected pool.<\/p>\n","protected":false},"author":1,"featured_media":88097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1389,1787],"class_list":["post-88096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-blockchain-oracles","tag-venus-planet"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88096"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88096\/revisions"}],"predecessor-version":[{"id":88098,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88096\/revisions\/88098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88097"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}