Sui DeFi Protocol Volo Hit by Exploit; $3.5M in Assets Stolen

ChainCatcher reports that Sui-based DeFi protocol Volo disclosed a security vulnerability on the Sui network that led to the theft of roughly $3.5 million in assets—WBTC, XAUm and USDC—from three designated Volo Vaults. Volo said it alerted the Sui Foundation and ecosystem partners shortly after detecting the incident and suspended all Vaults to contain further losses. The team stated the issue was limited to the three affected Vaults and does not apply to the rest of its Vaults, adding that about $28 million in total value locked (TVL) remains safe. Volo said it will take full responsibility for the losses and will not pass costs on to users. A full post-incident report and remediation plan will be published after the investigation is completed.