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Venus Initiates Emergency Vote: Security Recovery Protocol and User Funds Recoupment

By: theblockbeats.news|2025/09/02 16:42:21

BlockBeats News, September 3rd: Venus Protocol has released an emergency vote in response to a security incident where users fell victim to a phishing attack, prompting the protocol to swiftly pause to protect asset safety. The team has proposed a partial protocol recovery to adjust positions and prevent liquidation, along with a forced liquidation of the attacker's wallet. The protocol will be fully restored once the security review is completed.

The vote includes:

- Partial recovery of the Venus Protocol within 5 hours (enabling debt repayment/supply of funds);

- Recovery of stolen funds within 7 hours;

- Security review of Venus within 24 hours to prevent any other users from being subjected to similar attacks.

Full recovery of Venus - Updates and timelines will be announced separately.

Linea has announced the launch of the Ignition Liquidity Incentive Program, distributing 1 billion LINEA tokens as rewards.

Coinbase International Site to List ZEN, UMA, and GMX Perpetual Contracts