Summary
Volo Vault is a yield-generating vault product operated by Volo Protocol, a BTCFi and liquid staking platform built on the Sui blockchain. In April 2026, three of its vaults were exploited via a compromised admin private key, resulting in approximately $3.5 million in losses across WBTC, XAUm, and USDC holdings. The team committed to absorbing all user losses and ultimately recovered approximately 90% of the stolen funds through coordination with the Sui Foundation, ZachXBT, and ecosystem partners.
Connected Entities
1 entitiesTimeline(8 events)
2024-01-17
NAVI Protocol announces acquisition of Volo liquid staking protocol; Volo TVL at $7.45 million at time of announcement.
2025-08-07
Volo launches BTC Vaults, enabling users to earn yield on wrapped Bitcoin (wBTC) on Sui.
2025-11-01
Veridise completes formal audit of NAVI-Volo Vault v3 smart contracts (VAR-NAVI-250523-SUI-VOLO-VAULT-V3).
2026-04-21
Attacker uses compromised admin private key to invoke privileged withdrawal function, draining three Volo Vaults of approximately $3.5 million in WBTC, XAUm, and USDC. Attacker address: 0xe76970bbf9b038974f6086009799772db5190f249ce7d065a581b1ac0adaef75.
2026-04-22
Volo freezes all vaults and publicly confirms the exploit. Approximately $500,000 frozen within 30 minutes. Team notifies Sui Foundation and engages ZachXBT and ecosystem partners. Team commits to absorbing all user losses.
2026-04-22
Volo successfully blocks attacker's attempt to bridge out 19.6 WBTC (approximately $2.1 million); funds held by cooperating platforms.
2026-04-22
GoPlus Security and ExVul publish analysis attributing root cause to social-engineering-based admin key compromise, not smart contract vulnerability.
2026-04-27
Volo reports approximately 90% of stolen funds recovered or frozen; net loss estimated at approximately $200,000. Full user compensation pledged from Treasury.
Decision Log
- hash: 2jdyQk6CQpU3fDZ2bU9yJogtUtyE1hQPvDNxcenq8Czw
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:16 AM
last updated: 5/26/2026, 6:30:19 PM
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