[Analysis: Suspected Hacker Manipulates THE Collateral Liquidation, Resulting in Approximately $2.15 Million Loss for Venus] BlockBeats News, March 15, according to on-chain monitoring by analyst Yu Jin, an address (suspected to belong to a hacker) that received 7,400 ETH from Tornado Cash orchestrated tonight's collateral liquidation event involving CAKE and THE. This incident caused Venus Protocol to incur a liquidation deficit of approximately $2.15 million (around 1.18 million CAKE and 1.84 million THE), while the address borrowed assets worth approximately $5.07 million from Venus (2,172 BNB, 1.516 million CAKE, and 20 BTC). The specific process is as follows: The address first received 7,400 ETH from Tornado Cash via 0x7a7…234, then used it as collateral on Aave to borrow approximately $9.92 million in stablecoins (USDT, DAI, USDC), which were dispersed across multiple wallets to purchase THE. At around 20:00 tonight, the address allegedly pumped the price of THE on a centralized exchange (possibly pre-positioning long positions), then deposited 36.1 million THE into Venus as collateral through two wallets, borrowing BTC, BNB, CAKE, and other assets. Approximately 40 minutes later, the price of THE suddenly plummeted (suspected to be a shift from long to short positions). As the collateral value rapidly declined, the positions on Venus were forcibly liquidated, further exacerbating the drop in THE's price. Ultimately, all the collateral in the two wallets was liquidated, but there remains approximately $2.15 million in unpaid loans, resulting in bad debt for Venus. Overall, the address initiated the operation with a $9.92 million loan, while the on-chain borrowed assets amounted to only about $5.07 million. Based on on-chain activity alone, there was no direct profit. However, it is highly likely that the address profited from short positions on a centralized exchange by triggering on-chain liquidations and driving down THE's price.