Venus: Reviewing accounts affected by the WBETH depegging to assess a fair solution
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Venus: Reviewing accounts affected by the WBETH depegging to assess a fair solution
Venus, a lending protocol on BSC, stated on social media that its official team is aware of the WBETH price de-pegging issue, which caused some users to be unexpectedly liquidated during this morning's market downturn. The team is actively investigating the incident, reviewing affected accounts, and assessing fair next steps. Meanwhile, the team is enhancing risk management and oracle safeguards to help prevent similar events in the future. Notably, WBETH de-pegged during this morning's extreme market drop, falling as low as $430 (with ETH dropping to $3,435), resulting in a WBETH/ETH exchange rate plunge to 0.2. The rate has since recovered to 1.06, with WBETH currently priced at $4,097 (ETH at $3,840).
Navigating Web3 tides with focused insightsTechFlow, October 11 — Venus, the lending protocol on BSC, announced on social media that its official team is aware of the WBETH price de-pegging issue, which caused some users to be unexpectedly liquidated during this morning's market downturn. The team is actively investigating the incident, reviewing affected accounts, and assessing fair next steps.
In the meantime, the team is enhancing risk management and oracle protection measures to help prevent similar incidents in the future.
It was reported that WBETH de-pegged during this morning's extreme market drop, falling as low as $430 (while ETH dropped to $3,435), with the WBETH/ETH exchange rate plunging to 0.2. The rate has since recovered to 1.06, with WBETH currently trading at $4,097 (ETH at $3,840).
