Incident Overview
Venus Protocol issued a statement saying that Chainlink’s suspension of LUNA price updates after extreme volatility in LUNA prices caused the price of LUNA on the Venus lending market to remain at $0.107, while the market price of LUNA had dropped to $0.01 at that time. After the price update was suspended, two addresses lent about $13.5 million in assets by staking 230 million LUNA (worth about $2.3 million at the time), resulting in a loss of about $11.2 million to the protocol. At present, the LUNA lending market has been suspended, and this loss will be made up by the risk fund.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.