Million

Venus

Venus BNB

Coin

<div class="watcher-guru"> 
 <p><a rel="noopener noreferrer nofollow" title="Venus Protocol" href="https://thebittimes.com/tag/venus-protocol.html">Venus Protocol</a> has liquidated over $30 million worth of collateral from a notorious wallet that had borrowed large sums of stablecoins from the lending platform. The liquidation comes as the BNB chain’s native token, BNB, fell to around $209 on Monday morning.</p> 
 <p>Approximately 6.89 million Venus BNB (vBNB) tokens have been forcefully sold off. This is in line with a governance vote by BNB developers back in November 2022. This type of liquidation occurs when a highly leveraged position drops below a required margin threshold. It can be do to multiple reasons, but likely to declining asset prices.</p> 
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    <p lang="en" dir="ltr">#PeckShieldAlert The #BNBBridge Exploiter's position has been liquidated for ~6.89M $vBNB. The liquidator has repaid 30M $USDT. pic.twitter.com/yokVbIGuS3</p> 
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    </div> — PeckShieldAlert (@PeckShieldAlert) August 21, 2023 
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 <h2 class="wp-block-heading" id="h-recent-30-million-liquidation-follows-a-60-million-liquidation">Recent $30 million liquidation follows a $60 million liquidation</h2> 
 <p>Monday’s $30 million liquidation follows a similar $60 million liquidation across two transactions last week. Together, these enforcement actions have clawed back a substantial portion of funds borrowed by a wallet that had accumulated over $150 million in stablecoins from <a rel="noopener noreferrer nofollow" title="Venus Protocol" href="https://thebittimes.com/tag/venus-protocol.html">Venus Protocol</a> by exploiting a loophole.</p> 
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 <p>A recent alert by blockchain security firm PeckShield revealed the liquidation of a crypto wallet containing over $63 million worth of collateral on the lending platform <a rel="noopener noreferrer nofollow" title="Venus Protocol" href="https://thebittimes.com/tag/venus-protocol.html">Venus Protocol</a>. Additionally, PeckShield reported that $10.4 million was first liquidated. Soon after an additional $53.2 million worth of collateral from the same wallet was liquidated.</p> 
 <p>The wallet in focus was linked to a significant acquisition of Binance Coin (BNB) in October 2021. The individual involved in this incident had utilized the stolen BNB as security to secure a $30 million Tether loan from <a rel="noopener noreferrer nofollow" title="Venus Protocol" href="https://thebittimes.com/tag/venus-protocol.html">Venus Protocol</a>.</p> 
 <p>As BNB’s price dipped under $220 recently, it triggered the automatic liquidation of the hacker’s collateral positions. BNB is currently trading at $211, with a 3% drop in value over the last 24 hours.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>BNB Chain</li> 
  <li>Venus Protocol</li> 
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BNB Chain Hacker Loses $30 Million In Liquidation

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