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News

BNB Bridge Hacker’s 6.89 Million vBNB Position Liquidated As Liquidator Repays 30 Million USDT

August 21, 2023 - Around 2 mins mins to read

Key Points: 

  • Hacker’s 6.89 million vBNB position liquidated; 30 million USDT repaid by liquidator.
  • BNB Bridge hacker’s position liquidation follows Venus community’s endorsement, maintaining stability amidst price fluctuations.
About 6.89 million vBNB were stolen from the BNB Bridge hacker once their position was eliminated.
BNB Bridge Hacker's 6.89 Million vBNB Position Liquidated As Liquidator Repays 30 Million USDT

In a recent development, Paidun monitoring indicates that the BNB Bridge hacker‘s positions have undergone liquidation, resulting in the liquidation of approximately 6.89 million vBNB. In tandem with this, the liquidator has successfully repaid a substantial amount of 30 million USDT.

This liquidation follows previous news revealing the BNB Bridge hacker’s loan health coefficient on Venus had dropped to 0.99 as the price of Binance Coin (BNB) dipped below $210. Reacting swiftly, the Venus community endorsed a governance proposal that granted permission for the liquidation of positions stemming from earlier BNB Bridge hacks.

The liquidation of 6.89 million vBNB and the repayment of 30 million USDT highlight the vigilance of the cryptocurrency ecosystem in mitigating potential risks and maintaining stability amidst evolving market conditions. These proactive measures underscore the industry’s commitment to upholding security and confidence within the digital financial landscape.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

News

BNB Bridge Hacker’s 6.89 Million vBNB Position Liquidated As Liquidator Repays 30 Million USDT

Key Points: 

  • Hacker’s 6.89 million vBNB position liquidated; 30 million USDT repaid by liquidator.
  • BNB Bridge hacker’s position liquidation follows Venus community’s endorsement, maintaining stability amidst price fluctuations.
About 6.89 million vBNB were stolen from the BNB Bridge hacker once their position was eliminated.
BNB Bridge Hacker's 6.89 Million vBNB Position Liquidated As Liquidator Repays 30 Million USDT

In a recent development, Paidun monitoring indicates that the BNB Bridge hacker‘s positions have undergone liquidation, resulting in the liquidation of approximately 6.89 million vBNB. In tandem with this, the liquidator has successfully repaid a substantial amount of 30 million USDT.

This liquidation follows previous news revealing the BNB Bridge hacker’s loan health coefficient on Venus had dropped to 0.99 as the price of Binance Coin (BNB) dipped below $210. Reacting swiftly, the Venus community endorsed a governance proposal that granted permission for the liquidation of positions stemming from earlier BNB Bridge hacks.

The liquidation of 6.89 million vBNB and the repayment of 30 million USDT highlight the vigilance of the cryptocurrency ecosystem in mitigating potential risks and maintaining stability amidst evolving market conditions. These proactive measures underscore the industry’s commitment to upholding security and confidence within the digital financial landscape.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

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