Venus's snBNB oracle experienced a malfunction where Binance Oracle fed an incorrect price (snBNB spiked to $77B), allowing an attacker to buy snBNB at thin liquidity and trigger unintended liquidations. The protocol incurred a shortfall of ~$274K.

According to on-chain data, a user deposited 0.5 BNB into Venus and borrowed a series of assets, including stkBNB, ankrBNB, etc. The user then exchanged them for 116.45 ETH assets and transferred them to another account. In response to the attack on Venus, official personnel from the Venus Protocol addressed the issue on Telegram, stating, "The core pool and XVS are not affected. The attack occurred due to a price malfunction in Binance's oracle, involving the BNB price in a small independent pool. The snBNB team is currently addressing this issue. The cause has been identified, and it has been reported to the Binance oracle team."