Venus Protocol Halts Thena Token Activity Following $3.7M Exploit

[bonk]

Venus Protocol, a decentralized lending and borrowing platform, detected suspicious trading in the Thena (THE) token liquidity pool over the weekend. The unusual activity, affecting THE and Cake (CAKE), prompted Venus to pause all THE borrows and withdrawals to prevent further misuse.

Investigators from Allez Labs reported a supply cap attack where approximately 84% of THE’s market cap was manipulated. The attacker borrowed 6.67M CAKE, 1.58M USDC, 2,801 BNB, and 20 BTC, with estimated losses exceeding $3.7 million. Other low-liquidity token withdrawals were also temporarily halted as a precaution.

The incident underscores ongoing cybersecurity risks in DeFi, even as February 2026 saw overall crypto hack losses drop to $49M, according to PeckShield. Meanwhile, phishing and social engineering scams targeting individual users are on the rise, highlighting that crypto security remains a growing concern.

[chainsniff]

84% of THE’s market cap manipulated wow ok, imagine logging in and seeing ur $THE vanis