TechFlow reports, according to PeckShield alerts, as BNB price dropped below $210, the BNB Bridge hacker's loan health factor on Venus reached 0.99. The Venus community has passed a governance proposal whitelisting the liquidation of the previous BNB Bridge hacker's position.
The address holds 784,616.10 BNB as collateral and owes 124 million USDT+USDC in debt.
Binance co-founder He Yi stated in the community that Binance backs the BNB collateral on Venus, and Binance will promptly liquidate if BNB price falls, but these BNB liquidations will not impact the secondary market price; BNB will ultimately be burned down to 100 million tokens, and Binance will be responsible for burning these newly issued BNB tokens.
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