Volo Protocol Hack: $3.5 Million Stolen, Part of Funds Frozen

The team froze part of its funds and stated its readiness to cover losses without user participation.

Volo crypto platform hack: what's known about the $3.5 Million theft

22.04.2026 - 10:05

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2 min

Key points:

Volo Protocol was hacked, resulting in the theft of approximately $3.5 million.
The team froze some of its assets and stated that it would not pass on losses to users.

Volo Protocol, a liquid staking platform built on the Sui network, has reported a hack. Preliminary estimates suggest that attackers drained roughly $3.5 million in assets.

In a post on X (formerly Twitter), the team said the attack affected vaults holding WBTC, XAUm, and USDC. Following the incident, Volo quickly contacted the Sui Foundation and ecosystem partners and froze the affected vaults to contain the damage.

Source: X.com

What we know so far

The team stated that the freeze will remain in place until the investigation is complete and all issues are resolved. Other vaults are not affected by the same vulnerability and continue to operate normally.

According to Volo, about $28 million in total value locked (TVL) remains secure. The team also emphasized that it is prepared to cover the losses and does not intend to pass them on to users.

Less than 30 minutes after the initial announcement, the project reported it had successfully frozen around $500,000 of the stolen funds.

Developers said they are now focused on restoring trust, but have not disclosed details about the vulnerability or the identity of the attacker.

The Volo incident comes shortly after a major $292 million exploit targeting the Kelp DAO cross-chain bridge. Investigators have linked that attack to North Korea’s Lazarus Group.

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