Shocking! BNB Chain’s Venus Protocol Eats a $3.7M Elephant of Tokens!

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In the dusty hills of the BNB Chain, where digital farmers once tended their ETH and BNB with the care of a well-worn plow, Venus Protocol-no less than the largest lending pasture-has come up in a lurch, chilling collateral on six more milk‑path markets. The thief had lured itself onto THENA’s low‑liquidity THE token and walked out a barn full of $3.7 million worth of digital saddles.

Security researchers have traced the criminal’s trail to the address 0x1a35…6231, which first received a sack of 7,400 ETH from the smoky underground mixer known as Tornado Cash before vanishing into the night.

Six Markets Frozen as Venus Hunts for Concentration Risk

The rogue built up a fat stake in THE, inflating its price from a humble $0.27 to almost $5-like a crop that grow‑s up on a spiced‑corn patch-according to on‑chain sleuth Weilin Li.

That inflated collateral became the horses that pulled the wagon of roughly 20 BTCB, 1.5 million CAKE, and 200 BNB. The wagon rattled in frantic haste until it crashed back to a trembling $0.24 in a collision of its own making.

In order to beat the supply cap set by Venus, the thief transferred THE tokens straight into the vTHE contract. It’s a trick as old as overdue debts on a slope of clover, a known vulnerability in the Compound‑forked lending schemes.

THENA said its own safety nets rang in the morning at 12 PM UTC, and that no breach had happened to their smart contracts.

At around 12 PM UTC, our safety nets rang an alarm for the $THE market on Venus Protocol. We jumped straight on the hotline with our security partners and the Venus crew to get to the bottom of it.

THENA was not hit directly.

What You Need to Know:

• THENA…

– THENA (@ThenaFi) March 15, 2026

Venus called out “unusual activity” on the THE and CAKE markets.

In response, Venus lowered collateral factors to zero on Bitcoin Cash (BCH), Litecoin (LTC), Uniswap (UNI), Aave (AAVE), Filecoin (FIL), and Trust Wallet Token (TWT). These are the small cows with less than $2 billion of harvest, under $100 million daily flow, a DEX TVL of under $40 million, and single‑handler stakes above sixty percent.

As part of our ongoing response to the $THE pool mishap, we have cut the Collateral Factor (CF) of six extra acres to 0, effective immediately, at least until the investigation’s conclusion.

This precautionary measure cuts into fields where a single owner holds a large proportion of the crop.

– Venus Protocol (@VenusProtocol) March 15, 2026

Since 2021, Venus has gathered a stain of bad debt from a handful of blights-$95 million from XVS price cowboyry and $14 million after the Terra/LUNA tumble. Its total value locked has slumped from a peak of $7 billion to a lean $1.47 billion, like a once‑bountiful valley now left to collect with a handful of saplings.

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2026-03-15 21:50