DeFi platform Venus experienced a $270,000 borrowing glitch due to a Binance Oracle error. Venus has committed to replacing the funds and stated that the incident had a limited impact on an isolated pool. The total value locked in the DeFi protocol remains unaffected at $738 million. However, the native token XVS saw a 17.5% drop amid a broader crypto market sell-off.

Venus is a DeFi platform that faced a borrowing glitch of $270,000 due to a Binance Oracle error. The incident was not an exploit as initially suggested. Venus has assured users that the funds will be replaced and clarified that the impact was limited to an isolated pool. Despite the incident, the total value locked in the Venus DeFi protocol remains at $738 million. However, the native token XVS experienced a 17.5% decrease in value during a wider crypto market sell-off.

The Venus DeFi platform encountered a $270,000 borrowing glitch caused by a Binance Oracle error. The incident was not a result of an exploit and Venus has committed to replacing the lost funds. The impact of the incident was limited to an isolated pool, and the total value locked in the DeFi protocol remains unchanged at $738 million. However, the native token XVS saw a 17.5% decline in value amidst a broader sell-off in the crypto market.