Venus initiates emergency vote: secure protocol recovery and retrieval of stolen user funds

BlockBeats News, on September 3, Venus Protocol launched an emergency vote in response to a security incident. Due to users falling victim to a phishing attack, the protocol was rapidly suspended to protect asset security. The official recommendation is to partially restore the protocol to allow position adjustments and avoid liquidation, and to forcibly liquidate the attacker's wallet. The protocol will be fully restored after a thorough security review is completed.

The voting items include:

Partial restoration of the Venus Protocol within 5 hours (UTC+8) (enabling debt repayment/supplying funds);

Recovery of stolen funds within 7 hours (UTC+8);

Security review of Venus within 24 hours (UTC+8) to prevent similar attacks on any other users.

Full restoration of Venus - updates and timeline will be announced separately.