Venus Protocol Restores $11.4 Million After Phishing Attack Recovered via Emergency Governance

In a significant development for the DeFi space, the Venus Protocol successfully recovered over $11.4 million in funds stolen through a sophisticated phishing attack. The prompt and collaborative response involving blockchain security firms and community members saw the return of the assets within a short timeframe. This incident underscores the potential of decentralized finance to handle crisis situations effectively. Notably, Venus’s rapid action following an emergency governance protocol enabled swift intervention, highlighting the importance of robust protocols for managing cybersecurity risks in DeFi platforms.