Looks like some folks still don’t get what’s going on. To put it simply, the attacker controlled a large amount of THE, then exploited a loophole in @VenusProtocol that allows THE to be used as collateral to borrow hard currencies. They pumped THE on the market like crazy—there’s barely any liquidity, so even a little money can make a big move. Venus’s oracle reads on-chain data, so the THE they deposited instantly became super valuable. Then they went wild borrowing assets like BTC, Cake, BNB, etc. After that, they dumped THE, causing themselves to go insolvent. But it doesn’t matter—they’ve already swapped trash for real money. Venus has no choice but to eat this loss as bad debt, and the system will slowly sell off THE for liquidation. Checked my first trade of the day before bed—feels amazing.