New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

New Forum Proposal: BNB Bridge exploiter account remediation This proposal aims to give BNB Chain the discretion to seize the BNB Bridge exploiter’s collateral and repay its debts while avoiding any market liquidation of BNB. As of December 11, 2023, the exploiter’s balance holds 630,240.00 BNB as supply, along with 58,440,000 USDT and 37,440,000 USDC as borrow. To utilize the supply amount, it is required to first repay the debt. To resolve this, the forced liquidation mechanism will be used, where BNB Chain will have the discretion to exercise the operation. After liquidation, the full amount may be used to make repayment towards the protocol’s shortfall. This process will require the execution of the following steps: *Enable the forced liquidation for the exploiter’s position, and liquidate 100% of its USDT and USDC positions. *Seize remaining BNB post-liquidation. *Claim, seize and send the XVS allocated to this account to the Venus treasury. *Redeem the protocol liquidation fees generated by the liquidation. *Potentially repay any shortfall Full Proposal and additional details 👇🏻 https://community.venus.io/t/proposal-bnb-bridge-exploiter-account-remediation/3974

https://oceanex.zendesk.com/hc/en-us/articles/22380318905997