'Venus exploited for $40M' headline might be wrong.
I tested AI limits by feeding ChatGPT Thinking model with the tx. It can the read the explorer!
It says Venus worked as intended. If it's true, I won't need smart contract explanatooors anymore lol
Anyway, the AI read into the tx says the attacker abused approvals/signed auth from the whale wallet.
It used pre-approval to
- Repaid debt → unlocked collateral
- Borrowed USDC to self
- Redeemed vTokens to self
- Wallet drained. Protocol safe.
No idea if it's true, but if it is then:
- You should cancel approvals for all assets
- AI is next level
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