News/Venus Protocol Lost Over $10 Million as Chainlink Paused $LUNA Price Feed

Venus Protocol Lost Over $10 Million as Chainlink Paused $LUNA Price Feed

May 13,2022,10:10
Venus Protocol announced that Chainlink paused the $LUNA price feed due to extreme market conditions. The price on Venus was last listed at about $0.107 while the market price was $0.01. Two addresses had suspiciously deposited a sum of 230,000,000 $LUNA valued at over $24,000,000. Assets were borrowed totalling around $13,500,000, resulting in a loss of approximately $11.2 million. The $LUNA lending market is currently suspended and this loss will be covered by the venture fund. In addition, Venus has also indicated that it will open the market when Chainlink resumes feeding, and is also assessing the $UST Situation carefully and will take further actions as necessary.
Source
Disclaimer: This platform includes third party opinions. We do not endorse their accuracy. Digital asset prices can be volatile. Do your own insights. See full terms here
LastBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, ParadigmBitcoin Lightning Network Company Lightspark Closed New Funding Round Led by a16z, Paradigm
NextThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block ProductionThe Terra Blockchain Has Resumed Block Production
Share
NewsMore
    Loading...