Cyvers in the News

Venus Protocol suspends platform after phishing scam drains $27 million, XVS falls 6%

The pause followed reports from blockchain security firm Cyvers, which flagged a suspicious transaction draining nearly $27 million from a single wallet.

Cyvers added: “The stolen funds are currently held in the attacker’s contract and remain unswapped.”

Venus Protocol Trader Loses $30 Million in Major Error, Cyvers Confirms

“This incident shows that even experienced DeFi users remain vulnerable to sophisticated phishing schemes. By tricking the victim into granting token approvals, the attacker was able to drain $27 million from a Venus Protocol in a single transaction” said Hakan Unal Senior Security Operation Lead at Cyvers.

BNB Whale Drained of $13.5M in DPRK-Linked Phishing Attack

According to Cyvers, the attack likely came at the hands of a website that looked like a trusted site, with minor changes in the domain. The victim then approved a malicious transaction, which resulted in their funds being drained from their wallet.