Volo
845 posts
@volo_sui
Ultimate BTCFi + LST Hub on @SuiNetwork. Incubated by @navi_protocol ~ @OKX_Ventures, @hashed_official and @daofive vSUI now live on Mainnet!
✅Recovery Update #5 - Volo Vaults Good news, more funds have been recovered. We have successfully recovered the remaining ~64.9 ETH the attacker acquired. With this recovery, our total net loss is now down to ~$60K, which Volo will cover out of pocket to make all affected users whole. All stolen vaults, except XAUm, are ready to be replenished and will be brought back online as soon as possible. For the XAUm vault: we are coordinating directly with @MatrixDock to acquire the ~115 XAUm the attacker swapped on Sui. Due to the thin on-chain liquidity, a DEX swap of this size isn’t viable, so the XAUm vault restart may take a bit longer. We’ll keep you updated. Users will be made whole. No exceptions.
✅ Recovery Update #4 - Volo Vaults We have good news, recovery is well underway. Through swift coordinated efforts across our team and ecosystem partners, we have successfully identified the perpetrator of the attack and contained its impact. The total net loss from this incident amounts to approximately $200K, which Volo will compensate in full from our existing Treasury balance. Users will not bear any loss. A full back-to-business plan is coming shortly. Thank you for your continued patience, trust, and support. Here is a full breakdown of what happened and where things stand: ▸ The exploiter stole USDC, XAUm, and WBTC. Approximately 50% of the XAUm and WBTC holdings were sold into USDC. That amount, together with the directly stolen USDC, was bridged to Ethereum and converted to ETH. ▸ The remaining WBTC was intercepted and locked before it could be sold, and approximately half of the XAUm was frozen in place. Here is the status of each recovery: ▸ 90% of stolen funds recovered in ETH: We have successfully recovered 90% of the stolen funds, which have since been converted back to stablecoins and bridged back to Sui. These funds are now safe with Volo. Addresses controlled by Volo: ETH address: 0x010788D605db74B22974cF4eCdE67Cb325067461 Sui receiving address: 0xbfcd10fc8664d6d1f93c888f3a1c15111af819fecc56e6a5f2734b21119fa175 ▸ 19.6 WBTC fully reappropriated: The WBTC intercepted on the LayerZero bridge has been successfully reappropriated in full on Ethereum and will be bridged back to Sui in Volo's control. ▸ 100.6 XAUm unlocked on Sui: Working with our partners at Sui Foundation, these funds have been returned to Volo’s custody. ▸ Remaining 115 XAUm: The XAUm disposed of by the exploiter will be reminted in full through MatrixDock's minting mechanisms and brought back into Volo. This has been an extraordinary test of our team's resilience and the strength of our ecosystem partnerships. We are proud of how quickly and decisively we acted, and deeply grateful to the Sui Foundation and every partner who stood with us through this. Most importantly, thank you, our community, for your patience and trust during a difficult moment. We will not take that lightly. Volo comes out of this stronger, more battle-tested, and more committed than ever to the safety and integrity of your assets. We're back, and we're moving forward together.
✅ Recovery Update #3 - Volo Vaults Working closely with ecosystem partners and security teams, we have now flagged the hacker's EVM addresses across the majority of CEXes, swappers, and KYT tools. This significantly limits the attacker's ability to move or liquidate the remaining funds. Combined with the $2M+ already frozen, we are doing everything in our power to wall off every exit available to the attacker. To our affected users: we have not forgotten you, and we will not. Regardless of the outcome of recovery efforts, Volo is fully committed to making every affected user whole. We will share the full reimbursement plan shortly. More updates to follow. The Volo Team
✅ Recovery Update #2 - Volo Vaults Sharing another significant development: We successfully intercepted and blocked the hacker's attempt to bridge 19.6 WBTC out of reach. These funds are no longer under hacker control. We are now working with ecosystem partners to determine the best path to return these funds to Volo. We will share the outcome of those discussions as soon as a plan is confirmed. More updates to follow.
✅ Recovery Update - Volo Vaults Since our initial response, we have moved aggressively to recover stolen funds. Working closely with ecosystem partners, we have successfully frozen ~$500K of assets that were part of the breach. Stay tuned, we will continue to share updates as the situation develops.
🔒 Security Incident Update - Volo Protocol We want to address our community directly and transparently about a security incident that occurred earlier today. Rest assured, Volo is prepared to absorb any loss. What happened: An exploit resulted in the removal of approximately $3.5M in assets (WBTC, XAUm, and USDC) from Volo Vaults. We detected the attack, immediately notified the Sui Foundation and ecosystem partners to contain the damage, and froze the vaults to prevent any further exposure. Current status: 🔹All Vaults are currently frozen pending a full post-mortem and remediation 🔹The remaining Volo Vaults carry no shared vulnerability and are safe 🔹We are actively working with on-chain investigators and ecosystem partners on further recovery 🔹A full post-mortem will be published once the investigation is complete What this means for you: The ~$28M in TVL across all other Volo vaults is safe. The exploit was isolated to 3 specific vaults, and we have confirmed no shared attack vector exists with the remaining vaults. On absorbing the loss: We want to be clear: Volo is prepared to absorb this loss. We will do our best not to pass this to our users. We are in damage control mode now, but once that’s done, we will work out a remediation plan, and a full breakdown will be shared shortly. We understand that trust is earned, and right now, we are focused entirely on actions. Thank you for your patience and continued support. The Volo Team
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Volo is launching a new USDC vault backed by merchant financing originated by Dowsure, with repayment discipline supported by rail-integration partnerships with the world's largest e-commerce platform. 🔹Target APR: 19% 🔹90-day duration 🔹Stablecoin distribution at maturity Additional guaranteed yield supported by @DowProtocol A new standard for institutional-grade real yield on Sui
