Venus Protocol Hit by THE and CAKE Liquidation Cascade
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A wallet that received 7,447 ETH (~$16.29M) from Tornado Cash used the ETH as collateral on Aave, borrowed ~$9.92M in stablecoins and built a large THE position on Venus (BNB Chain), triggering a liquidation cascade across THE and CAKE markets. The incident left ~$2.15M in bad debt on Venus while the attacker extracted about ~$5.07M, underscoring DeFi liquidation risk, cross-protocol exposure (Aave→Venus) and security vulnerabilities in crypto lending/DEX ecosystems.
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- A wallet that received 7,447 ETH from Tornado Cash triggered liquidations in THE and CAKE on Venus.
- The wallet used ETH on Aave to borrow $9.9M, then built a large THE position on Venus.
- The event left $2.15M bad debt on Venus while the attacker gained about $5.07M in profit.
A complex DeFi trade on BNB Chain triggered a sharp liquidation cascade across THE and CAKE markets on Venus Protocol. On-chain data shows a wallet that previously received 7,447 ETH worth about $16.29 million from Tornado Cash, moved the funds before the event.
How the Trade Was Built
Blockchain analysts traced the activity to a wallet beginning with “0x7a7”. The address first received 7,447 ETH, valued at nearly $16.29 million, from Tornado Cash. The funds were then placed on Aave as collateral.
Using that collateral, the wallet borrowed about $9.92 million in stablecoins. The funds we…
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Coins
$ 2.05K
-0.64%
$ 652.49
-0.40%
$ 1.40
-0.59%
$ 85.25
-0.57%
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In This News
Coins
$ 2.05K
-0.64%$ 652.49
-0.40%$ 1.40
-0.59%$ 85.25
-0.57%$ 0.0000809
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