Volo Protocol suffers $3.5M exploit

Volo, a liquid staking protocol on the Sui (SUI) network, announced on X that it suffered an exploit this morning, resulting in losses of approximately $3.5 million in WBTC, XAUm, and USDC. The protocol stated that upon detecting the attack, it immediately notified the Sui Foundation and ecosystem partners and froze the affected vaults to prevent further damage. The damage was confined to three specific vaults, and the team confirmed there is no common attack vector with the remaining vaults. Approximately $28 million deposited in the other vaults remains secure. Volo added that it is committed to ensuring users do not bear the losses.