Overview
- Volo Protocol, which disclosed the breach Tuesday, said about $3.5 million was drained from vaults holding WBTC, XAUm and USDC.
- In response, the team froze all vaults and reported locking down roughly $500,000 of the stolen assets within about 30 minutes.
- The project said about $28 million in other vaults was not affected, noting each vault runs its own strategy so the flaw did not carry over.
- Volo pledged to cover user losses and is working with the Sui Foundation and on-chain investigators to trace and recover funds.
- The incident follows a string of DeFi attacks, including Kelp DAO’s $292 million breach linked to Lazarus Group, though Volo has not tied its case to any known actor.