Another DeFi protocol loses millions in hack days after KelpDAO breach

What Happened

Volo Protocol, a Sui blockchain-based DeFi platform, suffered a security breach draining approximately $3.5 million from three yield-generating vaults on Wednesday. The exploit affected vaults holding wrapped bitcoin, tokenized gold, and stablecoins. The protocol stated it will absorb losses rather than burden users. Volo froze $500,000 in assets and coordinated with Sui Foundation and investigators to contain damage.

Key Entities

AI Tools