Venus Protocol Exploit on BNB Chain Hits $3.7M via Supply Cap Manipulation

On-chain data show a threat actor bypassed Venus Protocol’s supply caps with Thena tokens to borrow assets on BNB Chain, raising questions about security and risk controls.

Rich by Coin

2026-03-16

Venus Protocol on BNB Chain has been hit with a $3.7 million exploit involving manipulation of the platform’s supply cap mechanisms. According to on-chain data, the threat actor used Thena (THE) tokens to bypass maximum supply restrictions and borrow several different digital assets from the protocol. A threat actor bypassed Venus Protocol’s supply caps using Thena tokens to borrow multiple assets in what analysts suspect was a flash loan or price manipulation attack on BNB Chain.

Analysts suspect the attack leveraged either flash loan tactics or price manipulation to artificially inflate the collateral’s value. Following the incident, Venus Protocol suspended borrowing and withdrawal functions for the THE token as a precautionary measure, though other markets on the platform remained unaffected.