Sui-based Volo Protocol exploited; team pledges to absorb losses
The Block
Volo Protocol, a Sui-based platform, was exploited for $3.5 million, but the team will absorb the loss.Summary
Volo Protocol, a liquid staking platform on the Sui blockchain, has reported an exploit resulting in the loss of approximately $3.5 million in assets from its WBTC, XAUm, and USDC vaults. The protocol has frozen these affected vaults and is working with the Sui Foundation and ecosystem partners. Volo has stated that other vaults remain safe and that the protocol intends to absorb the loss, aiming not to pass it on to users. They have also managed to freeze $500,000 of the exploited assets. The exploit occurred shortly after a significant $292 million exploit on the Kelp DAO cross-chain bridge, which has been linked to the Lazarus hacker group.
(Source：The Block)