Volo Protocol, the operator of yield vaults on the Sui blockchain, announced that it has started to freeze part of the $3.5 million stolen in an exploit on April 21, marking the latest major DeFi security breach in a month that has seen protocols lose nearly four times the combined total for the first three months of 2026.
The exploit targeted three vaults within Volo's ecosystem, resulting in the loss of WBTC, XAUm, and USDG. Volo first reported the incident on its official channels the same day, and quickly began working with ecosystem partners to mitigate the damage.
Volo承诺全额赔偿并成功冻结部分资金
Volo Protocol stated it is committed to absorbing all losses from the hack, assuring users that their funds will be made whole. The protocol has already taken significant steps to recover stolen assets: it successfully intercepted and blocked attempts to swap 19.6 WBTC (worth approximately $1.5 million at current Bitcoin prices) into unrecoverable assets. This followed an earlier freeze of $500,000 in stolen funds. By freezing the WBTC, Volo prevented the hacker from converting them into assets like ETH or BTC via cross-chain bridges, a common tactic used to avoid clawbacks and freezes.
The protocol is working closely with ecosystem partners to plan the recovery of frozen tokens. This proactive response aligns with its initial pledge to absorb losses and restore user confidence.
Sui生态安全性分析
Following the exploit, questions arose about the safety of the broader Sui ecosystem. Volo assured that the approximately $28 million in total value locked (TVL) in its vaults remains secure, as only three vaults were affected. The specific attack vector appears to be an admin key compromise, and Volo confirmed that its other vaults are not susceptible to the same vulnerability. As a precaution, all vaults have been frozen until a full incident report and recovery plan are provided.
Suilend, another protocol on Sui, quickly confirmed that none of its markets were impacted and that user funds are safe, with all operations functioning normally. This suggests that the contagion has been contained, unlike the recent rsETH incident on KelpDAO that required a preemptive halt.
Despite the hack, the Sui ecosystem has shown resilience. SUI is trading at $0.97 at the time of writing, up about 2.72% over the past day, riding the positive momentum from Bitcoin amid easing geopolitical tensions in the Middle East. However, total value locked on the network has declined by about 3.4% ($20 million) over the same period, indicating some short-term investor caution.
The incident highlights the persistent security challenges in DeFi, especially in a month where protocols have lost nearly four times the combined losses of the previous three months. Volo's commitment to absorbing losses and its effective freeze actions may help restore trust, but the broader trend of targeted exploits remains a concern for the industry.