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Venus Protocol refunds $11.4 million in compensation after the scam attack.
Venus Protocol has reimbursed 11.4 million USD to Kuan Sun after a phishing attack, with transactions recorded on BscScan. The incident demonstrates the rapid crisis management capability of DeFi, while also raising debates about decentralization and control in emergency situations.
Immediately after the incident, Venus launched an on-chain emergency response, coordinating with PeckShield, SlowMist, and Binance to protect assets. The successful reimbursement of funds strengthened community trust and was seen as evidence of effective cross-platform collaboration. Additionally, Venus implemented a new governance mechanism that allows for quicker intervention in cybersecurity risks.
The market recorded fluctuations as asset values ranged from 11.4 to 13.5 million USD. Kuan Sun referred to this as "a battle won," while regulatory agencies such as the SEC and CFTC have yet to comment.