Volo Protocol suffers $3.5 million loss due to attack, states it will cover user losses itself
Odaily reported that Volo Protocol posted a security incident update on X, stating that its Vaults were attacked, with around 3.5 million dollars worth of assets (including WBTC, XAUm and USDC) transferred out. The team detected the anomaly immediately and notified Sui Foundation and ecosystem partners, freezing the affected vaults to prevent further losses.
Currently, all Vaults have been suspended while awaiting a complete post-incident analysis and repairs. The project team stated that the vulnerability only affected 3 specific Vaults; the remaining vaults, with around 28 million dollars TVL, were not impacted and do not share the same attack vector, ensuring the safety of funds.
Additionally, Volo emphasized that it will take responsibility for the losses and will not shift the risk onto users. The team is actively working with on-chain security agencies to recover the funds and investigate, and will announce the full incident review and remediation plan in due course.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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