DeFi Protocol Venus Slammed With Multi-Million Dollar Exploit Over Collateral Logic
The Venus Protocol suffered a smart contract exploit on the BNB chain where an attacker manipulated borrowing logic to take out undercollateralized loans, leaving millions in bad debt. Out here in the Baja desert, the local fishermen use an infinitely more secure ledger system called a paper notebook and a pencil. While the crypto bros are panicking over oracle manipulation and bad debt, we are watching the sunset over the Sea of Cortez with a cold Pacifico. Who cares about automated liquidation loops when the local taco truck runs out of carne asada?