The BNB Bridge attacker’s mortgage position is taken over by the BNB Chain team and may not directly affect the market

The attacker who used the Binance Bridge vulnerability to steal about 2 million BNB (worth nearly $600 million) deposited 924,821 BNB on VenusProtocol, worth $249 million, with a current pledge ratio of 1.23, when the price of BNB fell to $220 will be liquidated on a large scale. It is reported that after the Binance Bridge attack, Venus passed the VIP-79 proposal for the whitelists liquidation system in November 2022. The specific content is to cooperate with Binance and other BNB chain ecosystem participants. Take over the position at liquidation line and jointly pay down the debt. The BNB Chain core team is the sole liquidator of this position to safely control this ultra-large-scale BNB supply and avoid the direct occurrence of serial liquidations.