Volo Hit by Exploit on Sui; $3.5M Drained from Three Vaults

Volo said it identified a security issue on the Sui network that impacted its BTCFi and LST protocol, leading to the theft of about $3.5 million in assets from three Vaults. The stolen funds included WBTC, XAUm and USDC. The team has alerted the Sui Foundation and other ecosystem partners and has frozen all Vaults. Volo added that only the three Vaults were affected and that the remaining $28 million in total value locked (TVL) is secure. Volo said it will make users whole and will publish a post-incident report along with a remediation plan.