Venus Protocol Total Recovers, User Funds Survive After Phishing Attack

Photo: Venus Protocol

JAKARTA - Venus Protocol, the decentralized financial loan platform (DeFi), the largest in BNB Chain, said its services had fully recovered, after experiencing a cyber incident.

Previously, the company reported that a cyber incident had occurred which caused a user to lose a crypto asset worth US$13.5 million or around Rp202.5 billion due to a phishing attack.

The attack targeted users by tricking them into approving malicious transactions, which then provided illegal access for attackers to drain assets.

Update: Venus Protocol has been fully restored (withdrawals and liquidations resumed) as of 9:58PM UTC. ✅

The lost funds have been recovered under Venus' protection. ✅ https://t.co/y2uUwPqmtb

— Venus Protocol (@VenusProtocol) September 2, 2025

Update: Venus Protocol has been fully restored (withdrawals and liquidations resummed) as of 9:58PM UTC.

The lost funds have been recovered under Venus' protection. ✅ https://t.co/y2uUwPqmtb

Blockchain security firm PeckShild briefly reported a loss of US$27 million (Rp405 billion), but later corrected it to US$13.5 million after calculating the user's debt position.

Launching Coin Central, the attacker is known to have stolen stablecoins and wrapped other assets from the victim's account, his funds were drained in just one transaction. Well, in response to the incident, the Venus Protocol had stopped its services for a thorough security review.

We are very grateful for the community's support during this critical period. Temporary suspension of services is needed not only to secure phishing-affected funds, but also to carry out full security checks and ensure Venus interfaces are not compromised, "wrote the Venus Protocol on its official account.

They also emphasized that the lost user funds were fully restored under the protection of the platform.