Suspected Hacker Address Manipulates THE Price, Triggering Venus Protocol Liquidation Cascade, Profits Exceed $5.07 Million

DeepFlowTech · 2026-03-16T02:02:01+00:00

A wallet address is suspected of being involved in a liquidation event on Venus Protocol. The attacker borrowed stablecoins using ETH, then accumulated large amounts of THE and drove up the price, causing the price to collapse and triggering a cascade of liquidations, resulting in $2.15 million in bad debt. The attacker profited approximately $5.07 million.

DeepFlowTech

2026-03-16 02:02:01

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Deep Tide TechFlow News, March 16 — According to on-chain analyst Onchain Lens (@OnchainLens), a wallet address “0x7a7” received 7,447 ETH (approximately $16.29 million) from Tornado Cash. This address is suspected to be behind the cascade of liquidations involving CAKE/THE on Venus Protocol. The attacker borrowed $99.2 million in stablecoins using ETH as collateral on Aave, then accumulated a large amount of THE tokens and allegedly manipulated the price on centralized exchanges. Subsequently, they deposited 36.1 million THE into Venus to borrow assets like BTC, BNB, and CAKE.

About 40 minutes later, THE price collapsed, triggering a chain of liquidations that resulted in a $2.15 million bad debt on Venus. The attacker withdrew approximately $5.07 million in assets, with actual profits possibly higher — mainly from short positions on centralized exchanges during the crash.

ETH7,53%

CAKE19,48%

BTC2,56%

BNB2,8%

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