Illiquid THE token used as collateral in suspected flash-loan drains $3.7M from Venus Protocol on BNB Chain
On-chain data reviewed by reporters shows a wallet flagged by analysts extracted roughly $3.7 million from Venus Protocol on BNB Chain by depositing THE tokens as collateral and borrowing CAKE, BTCB and BNB [1] [2].
Community sources and chain observers identified the address 0x1a35…6231 as the wallet that collateralized a large amount of THE to take the loans, according to multiple reports of the incident [3] [1].
Several outlets characterize the incident as a suspected flash‑loan exploit that leveraged an illiquid token used as collateral to enable the large borrows, leaving estimated losses at about $3.7 million on the protocol [4] [2].
On-chain analysis and reporting remain ongoing as researchers trace the movement of funds and the full impact on Venus Protocol [1].
Anonymous signal used only for weekly cluster rankings. No public counters.
Share
Broadcast this coverage
Copy-ready links for the networks your audience checks first.
Support independent reporting
If this summary helped, a small tip helps keep ClusterWire running.
Privacy note: we log tip UI events (page + action, and article slug when applicable) to improve the feature. We don’t store IP address, user-agent, or wallet addresses in analytics. Tips are on-chain, so the sending address is public in the transaction.
Citations
Follow the primary reporting behind this analysis. Click a citation to open the referenced source in a new tab.
- 2Suspected $3.7M Exploit Hits Venus Protocol After Attacker Uses Illiquid Token as CollateralBitcoin.com News• Mar 15, 2026
- 3Beware: A Cryptocurrency Platform Has Been Hacked, and the Price of an Altcoin Has PlummetedBitcoin Sistemi• Mar 15, 2026
- 4Venus Protocol Hit by $3.7M Flash Loan Attack on BNB ChainCoinpedia Fintech News• Mar 15, 2026
Themes
Themes driving this story
Curated from the cluster of sources powering this article.