TechFlow news — Venus has released a latest article disclosing the process and resolution of the large-scale XVS liquidation incident.
The investigation revealed that liquidators profited approximately $20 million, sellers gained around $55 million, and scalpers ("yellow ox") made about $2 million. The address 0xef044 incurred a net loss of roughly $66 million. The address is linked to Swipe's custodial address on Binance, indicating no insider trading occurred.
Due to market volatility, the protocol suffered losses of approximately $77 million. The VGP will recover about $77 million from its allocation fund and implement a community recovery plan for XVS holders through airdrops funded by both the allocation fund and protocol revenues.
Following this event, leadership changes have been implemented: Swipe will no longer manage the project, and a new Venus Committee will be introduced. Voting power and control will be delegated to this new committee, with enhanced risk management measures put in place.
