Venus Protocol, a decentralized lending market built on the BNB Chain, denied claims that it had suffered a predominant loss in an exploit over the weekend.

The workforce at the back of the protocol took to X to mercurial shut down rumors of what changed into first reported to be a $54 billion exploit by blockchain security company SlowMist.

Venus said that the protocol changed into working as intended, but a non everlasting imprint thunder with the Binance Oracle that’s liable for imprint feeds in an remoted pool changed into liable for the difficulty – one thing that SlowMist later clarified.

Brad Harrison, the head of Venus Labs, explained that the oracle which helps the imprint of snBNB – a yield bearing liquid staked version of BNB –  reported the execrable imprint in an remoted pool on the protocol.

This resulted in one particular person inadvertently borrowing $270,000 price of the asset in quiz. Though the oracle changed into launched “to lead positive of these valid situations,” Harrison said that the difficulty of the form of discipline tranquil prevails by the exhaust of lengthy resources that no longer steadily ever hang a few imprint feeds accessible.

“On this case we can protect up for toughen the safety on remoted swimming pools by at the side of enhance for imprint resilience,” said Harrison.

“While participating in remoted swimming pools always entails better effort, no other swimming pools were affected.”

Venus Protocol also paused the snBNB market, along with two other remoted markets with an identical Binance Oracle configurations.

“It is also price bringing up that the Binance Oracle workforce has already identified and mounted the difficulty and this is strictly a precautionary non everlasting measure,” they smartly-known.