It turns out it was a hacker causing trouble. First, they borrowed $9.92 million to buy $THE and manipulate the price upward, then collateralized it on Venus to borrow over $5 million in assets, and finally dumped the position to blow up their own holdings, leaving Venus with a $2.15 million bad debt. The real profit was made from short positions on CEX; the on-chain activity was just a show for us. $THE

THE-17,07%
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