TechFlame News: According to on-chain analyst Yu Jin's monitoring, an address (hacker?) that received 7,400 ETH from Tornado was the main driver behind the collateral liquidation events for CAKE and THE tonight, resulting in a liquidation shortfall of approximately $2.15 million (1.18 million CAKE + 1.84 million THE) for Venus. The hacker obtained around $5.07 million in funds (2,172 BNB + 1.516 million CAKE + 20 BTC) from Venus: The address first received 7,400 ETH from Tornado via the 0x7a7...234 address, then deposited it into Aave as collateral to borrow 9.92 million USD (including USDT, DAI, and USDC), which was transferred to multiple wallets to purchase THE. Around 8 PM tonight, it is suspected that the hacker artificially inflated THE’s price on a centralized exchange (CEX) (likely after previously deploying long positions). Then, using two wallets, they deposited 36.1 million THE into Venus and borrowed assets such as BTC, BNB, and CAKE. Forty minutes later, THE’s price plummeted (likely due to the hacker closing long positions and opening short positions), leading to the liquidation of their collateral on Venus and further driving down THE’s price. Ultimately, the collateral in these two wallets was completely liquidated, but approximately $2.15 million (1.18 million CAKE + 1.84 million THE) in borrowed funds remained unpaid, resulting in a shortfall for Venus. Overall, the hacker borrowed 9.92 million USD to execute this scheme but only obtained assets worth $5.07 million from Venus. While the on-chain activity alone appears unprofitable, it is speculated that the hacker leveraged the on-chain liquidation to drive down THE’s price, thereby profiting from their positions on the CEX.