- A $3,5 million exploit occurred in the Volo protocol, affecting WBTC, XAUm, and USDC storage on Sui.
- The team froze all storage, claiming the funds were safe.
Decentralized Finance Protocol (DeFi) Volo reported a security breach that resulted in the theft of nearly $3,5 million in digital assets. This is the latest in a series of platform hacks. DeFi.
Volo Protocol Team reported, that the attack affected multiple storage facilities and assets, including Wrapped Bitcoin (WBTC), Matrixdock Gold XAUm and USDC.
We detected the attack, immediately notified the Sui Foundation and ecosystem partners to minimize the damage, and locked down the storage facilities to prevent further data disclosure, the statement said. statement Volo Protocol.
In two separate posts, Volo said it had frozen approximately $2 million of the stolen funds so far.
We are currently working with ecosystem partners to find the optimal way to return these funds to Volo, says in one of the protocol messages.
The team also says all vaults will remain locked until the investigation is completed and the issue is resolved.
Volo is prepared to absorb the losses and will strive to minimize the impact on users. This is important, as exploits often result in users losing funds, being unable to withdraw funds, or experiencing lengthy waits for access to be restored. Instead, the platform plans to cover the shortfall internally while developing a remediation plan.
The Volo hack comes shortly after the $280 million KelpDAO hack, which was previously reported Reported redaction Happy Coin NewsWhile these incidents are unrelated, they put pressure on investors, who are already closely monitoring the risks associated with bridges, data storage, and smart contract security across blockchains.
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