DeFi Platform Volo Hit by $3.5M Vault Attack, Begins Recovery Efforts

Decentralized finance (DeFi) protocol Volo has experienced a security breach, resulting in the loss of approximately $3.5 million in digital assets. The attack affected specific vaults and involved assets like Wrapped Bitcoin (WBTC), Matrixdock Gold XAUm, and USDC. Volo immediately notified the Sui Foundation and ecosystem partners to contain the damage and froze affected vaults. The protocol stated that around $28 million in total value locked across other vaults remains secure, with no shared vulnerability identified. Volo plans to absorb the losses rather than pass them on to users, though remediation details are still being finalized. This incident follows another exploit on the liquid restaking protocol Kelp, which lost approximately $293 million. Volo has managed to freeze or block about $2 million of the stolen funds and has successfully prevented the attacker from bridging 19.6 WBTC.

(Source：Cointelegraph)