Venus Protocol faces $2.15M in bad debt following exploit

Venus Protocol (XVS) has incurred $2.15 million in bad debt following a hack worth approximately $3.7 million last weekend, CoinDesk reported. The incident was a supply cap attack that exploited the THE token. In response, Venus has suspended lending for THE and adjusted its collateral value to zero. The protocol is now considering using its risk fund to cover the losses.