What do you all think about that?
https://medium.com/@venus.insider/venus-io-disclosure-an-inside-job-f8ef195fe78d
I think Venus’ team playing with us
*Not my article/research, just reposting
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Wow… This is just absolutely crazy. Scams, rug pull, market manipulation and pump and dump are common in the crypto sphere. But here, if this is true, the culprit could be linked to a Binance subsidiary (Swipe).
why the venus’ team not responding? maybe because they can’t. we should share this information while preventing others from losing their money
I’m a relatively new user and really concerned. Don’t know if I should withdraw my funds?
I thought I read something from Venus that the Swipe team is now longer looking after Venus Protocol - effectively they have been fired!
Has the above article been brought to Binance’s attention? Should we put the link to the article in Medium on Twitter?
Here is Venus response: https://blog.venus.io/venus-protocol-incident-post-mortem-4468c87d245e
Swipe team will no longer be responsible of Venus and the leadership of the project will be replaced (presumably by people from Binance).
According to the response, the market manipulator did not profit from the manipulation but instead suffered a loss of 66M$. Don’t know if it’s true when we take everything into account, but it does not change the fact that his action caused a huge debt to the protocol.
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I read this too. Very scary. We all have a lot of money in here and I dont want to become a victim of a hack/insider job. (or a victim of anything other than my own stupidity)
Hi, I did previously read the Venus press release. I saw the article on Medium after that.
Agree it caused the debts, but it also cause major liquidations to other users. The price manipulation caused the cascading impact leading to a substantial liquidation of my BNB
and other users’ assets.
This incident really humiliated Binance.
I hope Venus will introduce measures as soon as possible to save its reputation.
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