Venus Protocol Hit by $13M Phishing Attack, Highlights DeFi Security Concerns

On September 2nd, 2025, Venus Protocol experienced a significant cybersecurity incident that resulted in the loss of approximately $13 million. The attack involved phishing, where a victim unknowingly approved fraudulent requests, giving an attacker control over their funds without access to private keys. This allowed the attacker to utilize these assets for various purposes such as borrowing and trading.