BNB Chain to Take Over Venus Protocol’s $150M Position as Loan Approaches Liquidation Threshold
The whitelisted wallet permitted to liquidate the loan has been funded with $30 million in USDT to prevent a shortfall on Venus.
The BNB Chain core team is set to take over a substantial Binance Coin (BNB) loan position belonging to the decentralized lending platform Venus Protocol as it approaches its liquidation threshold.
The $150 million BNB loan belonged to a hacker who exploited a cross-chain infrastructure on the BNB Chain in October 2022, resulting in the loss of more than $100 million in crypto assets.
