Телеграм канал «Venom Foundation Official»

🛡 ChainConnect Post-Mortem: Alien Proxy Callback Exploit 🛡

On July 26th, an unauthorized caller exploited an access-control flaw in a ChainConnect bridge contract on Venom 2.0.

The vulnerability was in their application-level code (specifically the ProxyMultiVaultAlien_V10.onCheckAccumulatedFee callback), which lacked proper sender verification. This allowed the minting of unbacked Alien TIP-3 tokens that were then bridged to Ethereum through the standard flow.

The issue was not related to Venom, the TVM, the TIP-3 standard, network infrastructure, relays, or any core components. No keys or privileged access were compromised.

Actions taken and fund recovery

ChainConnect has taken full responsibility, patched the vulnerability across all affected deployments, and conducted a thorough review of their callback and minting logic.

👉 82.9% of the affected funds (~615k USD) were returned, with 17.1% retained as a bounty.

Venom and ChainConnect
Venom is an independent public blockchain. ChainConnect is a separate project building on the broader ecosystem. Our team assisted them during the investigation, but we were not involved in the root cause.

🔗 Full technical post-mortem from ChainConnect: telemetr.me/chainconnect_news/9

➡️ Time to Move Beyond Active Addresses ➡️

Venom Foundation’s new report calls out active addresses as an unreliable metric for blockchain adoption. 🤖 Many are inflated by Sybils, bots, and automated activity, giving a false picture of real user growth.

They propose better, manipulation-resistant metrics focused on genuine usage.

🔍 Check out the full details in Blockchain Reporter: 🔗 https://blockchainreporter.net/venom-foundation-calls-for-better-blockchain-adoption-metrics-beyond-active-addresses/

Update on the ChainConnect Security Incident

The ChainConnect team has identified a security incident affecting their bridge platform and has temporarily suspended all bridge operations while its investigation continues.

The Venom team has been in close contact with ChainConnect and is providing assistance throughout the investigation. We will share additional details as soon as verified information becomes available.

What you need to know

🔎 ChainConnect is actively investigating the incident with support from the Venom team.

⛔️ The ChainConnect Bridge has been temporarily paused as a precaution.

🛡️ Based on the information currently available, the incident is limited to the ChainConnect Bridge and does not affect the operations of the Venom Network.

✅ No impact to assets held directly on the Venom Network has been identified at this time.

Important

❗️ Please do not interact with the ChainConnect Bridge until further notice.

‼️ ChainConnect is an independent ecosystem product built on Venom. The investigation currently concerns the ChainConnect Bridge and the vulnerability should not be interpreted as a compromise of the Venom Network.

🙏 Thank you for your understanding and continued support. Further updates will be shared when verified information becomes available.

⏳ Stage 5 of Season 6 Coming Soon ⏳

We’ve heard you loud and clear.

Many of you have been asking for clarity on the Early Participant NFT migration, and we’re actively working on it. 🛠️

🔜 In the upcoming Stage 5, you’ll be able to:

• Swap your NFTs to the new Venom network
• Complete fresh tasks
• Explore new token mechanics on the upgraded chain

🤝 This is a major milestone for Venom, so we’re moving carefully and deliberately to make sure the transition is smooth and hassle-free for everyone.

📅 We’ll announce the exact start date soon. Thank you for your patience and continued support! 🙏

Stay tuned. Big things are on the horizon.

✅ ChainConnect Maintenance Successfully Completed ✅

The ChainConnect Bridge platform underwent maintenance work in order to connect to the new Venom network.

The Bridge is now fully functional with Venom operations.

Thank you for your patience! 🙏

🛡️Venom Looking for DeFi Insurance Partner 🛡️

Venom Foundation is actively seeking a DeFi insurance partner 🔐 to boost on-chain security and protect user assets.

🤝 Rather than developing its own insurance service, the platform is looking for a professional underwriting collaborator that can offer dependable claims processing and coverage.

For more details check out this article: 🔗 https://blockchainreporter.net/venom-foundation-seeks-defi-insurance-partner-to-strengthen-on-chain-security/

💬 And if you have any suggestions, leave them in the comments or reach out to us on Discord.

➡️ Migrate Your Venom Tokens ➡️

The new Venom mainnet is live following a flawless migration.

Holders can now perform a simple 1:1 swap of their tokens through the official migration portal. There are no address changes and everything is running seamlessly.

🔗 Portal: https://migrate.venom.network/

✅ The old chain will remain active for 6 months, so you can migrate at your own pace.

📝 Our CEO, Christopher Louis Tsu, just wrote an essay on what Venom's migration means for the industry, check out the full details here: 👉 https://www.thecryptoupdates.com/what-venoms-quiet-migration-says-about-blockchains-coming-of-age/