Venus

<a target="_blank" href="https://tokeninsight.com/en/coins/venus/overview">Venus</a> Protocol, the largest lending protocol of BNBChain, tweeted that if the <a target="_blank" href="https://tokeninsight.com/en/coins/binance-coin/overview">$BNB</a> price reaches the liquidation threshold, the core team of BNBChain is ready to take over the $BNB position on Venus as planned. The liquidation address has prepared $30 million to repay the account loans, and more funds will be provided if needed. There will be no sale of any $BNB in the market, and no shortfall is expected on Venus.<figure class="image"><img src="https://s2.tokeninsight.com/static/calendar/img20230612022508ebe0dc91-c7ab-4b5c-8f3d-1962278a6584.jpg"></figure>Previously reported: <a target="_blank" href="https://tokeninsight.com/en/news/bnb-bridge-attacker-s-250m-bnb-collateral-will-be-liqudiated-at-220">BNB Bridge attacker's $250M $BNB Collateral will be Liqudiated at $220</a>In October last year, a hacker attacked the BNB Chain cross-chain bridge and made a profit of 2 million $BNB, subsequently depositing around 920,000 $BNB as collateral on Venus to borrow approximately $150 million in stablecoins.The attacker utilized the Venus Protocol lending protocol on the BNB Chain to collateralize 924,821 $BNB tokens (worth approximately $200 million at current price) with a liquidation price of around $220.Earlier, the Venus DAO voted to designate the BNB Chain team as the sole liquidator of the attacker's address, ensuring that the 920,000 $BNB will not be dumped in the market during liquidation.The current price of $BNB is $225.&nbsp;<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a>. Your trust will be well respected.

$200M of $BNB to Reach the Liquidation Price, BNBChain Team to take over the $BNB Position

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