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- 🚗 #GateSquareCommunityChallenge# Round 1 — Who Will Be The First To The Moon?
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Analysis: Venus has temporarily suspended contracts, and there may be hope of recovering the stolen funds.
According to a report from Jinse Finance, a Twitter user benmo.eth tweeted that the loss from the Venus protocol hack was due to a Large Investor (ending in 2008) Address signing a setDeleGate transaction about an hour ago, granting address permissions to the attacking contract, which took away most of the Position from the Large Investor's Address. In fact, it was not Venus that was attacked; in addition, Venus promptly paused the contract, so the funds are still on the platform and have a chance of being recovered.