$27 million vanished! Venus Protocol clarifies it was not hacked, it was a major user who was 'tricked'

The well-known lending protocol Venus Protocol on the BNB Chain shocked everyone today (2nd) with reports of $27 million in assets flowing out unusually, leading the market to suspect a core contract was hacked. However, the latest news indicates that the main cause of the incident was not a smart contract vulnerability, but rather that a major user fell victim to a phishing attack, mistakenly authorizing a malicious transaction that resulted in asset theft.
At the outbreak of the incident, several on-chain analysts pointed out that Venus Protocol's 'Core Pool Comptroller' contract appeared to have been updated to a malicious address, leading to the rapid transfer of tokens including vUSDC and vETH.
Due to Venus Protocol being a highly popular DeFi lending protocol in the BNB Chain ecosystem, the news immediately triggered market panic.
However, as security company PeckShield and Venus Protocol officials continue to track the situation, the outline of the incident is gradually becoming clear. Venus Protocol emphasized in the post that the protocol has not been attacked, and the smart contract is safe; this incident involved a single user being attacked.
To clarify, Venus Protocol has NOT been exploited. A user has been attacked. Smart contract is safe. https://t.co/ijgelbgVQE
— Venus Protocol (@VenusProtocol) September 2, 2025
PeckShield also posted that a Venus Protocol user fell victim to a phishing attack, signed a malicious transaction, and authorized the attacker's address (0x7fd8…202a), which led to the theft of $27 million in crypto assets.
Venus Protocol officials pointed out that the funds of other users are not affected, and the development team is checking whether the contract is functioning normally.
Venus Protocol is a core DeFi lending protocol on the BNB Chain that allows users to deposit stablecoins and mainstream cryptocurrencies to earn interest, while borrowers must collateralize assets to obtain loans.
At its peak, Venus Protocol's total locked value (TVL) exceeded $7 billion, making it an unshakeable pillar in the BNB Chain ecosystem.
"$27 million vanished! Venus Protocol clarifies it was not hacked, it was a major user who was 'tricked'". This article was first published on (Blockcast).