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On December 15, the BNB Chain core team initiated the "BNB Bridge Attacker Account Remediation" proposal on the BNB Chain's lending protocol, Venus Protocol. The purpose of this proposal is to grant discretionary power to the BNB Chain, allowing it to seize the collateral of the BNB Bridge attacker and repay their debt, while avoiding any market liquidation of BNB. As of December 11, 2023, the BNB Bridge attacker holds 630,240.00 BNB as supply and has borrowed 58,440,000 USDT and 37,440,000 USDC. To utilize the supplied amount, the debt must be repaid first. To address this issue, a forced liquidation mechanism will be employed, where the BNB Chain will have the authority to execute this operation. After liquidation, the entire amount will be available to cover the deficit of the protocol. The proposal outlines a plan to reduce the debt of the BNB Bridge attacker safely using their funds and potentially address the deficit of the Venus Protocol through the funds of the BNB Bridge attacker. |
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Post time 22-12-2023 07:38:08