Venom Foundation Official

🚀 Venom Wraps Up Migration to New Mainnet 🚀

Venom has successfully shifted to its new, state-of-the-art protocol. The new, faster and more secure protocol is already live.

⚡ This is not just a protocol upgrade, it is the start of a new era for Venom. The new mainnet brings:

-higher transaction speeds
-bolstered security
-enhanced comfort and tools for builders and developers
-baked-in ecosystem-wide acceleration vectors
-scalability tailored to Venom's expanded performance requirements

🔄 Transferring Tokens in SparX Post-Migration
If you missed the chance to migrate your tokens, we've got you covered. You can transfer your tokens inside your SparX wallet.
🔎 We will be publishing a comprehensive guide on how to do it, so keep your eyes peeled for further announcements.

📲 You can download a SparX wallet here: https://sparxwallet.com/download

✨ Welcome to Venom's next epoch.

🚀 New Protocol Migration Begins 🚀

The migration to Venom’s next-generation protocol has begun.

⏳ The migration will last 24 hours. Once it has been completed, we will publish a guide with instructions on how to access the assets on the new network.

🔒 Now that the migration is underway, the portal has been shut down. Recovery of old assets will be done through seed phrases which should be entered in your Sparx Wallet for new Venom assets.

🙏 Thank you for your patience! As always, if you have and questions are concerns, we will be glad to help.

⚡️ ChainConnect Returns to Service ⚡️

Great news for the Venom ecosystem. After a vulnerability was discovered, the ChainConnect Bridge has been secured, vetted and stress tested, and restored to its full functionality ✅.

🔐 It is important to note that ChainConnect is a separate project that has built upon the Venom ecosystem. The Venom team assisted the ChainConnect team in the recovery and security processes, but the vulnerability was not tied to the Venom network as a whole, rather it was an isolated problem in the ChainConnect platform.

🔄 We remind you that the migration process is ongoing and if you still have tokens on the old chain, you should send them through the migration portal before you withdraw them.

🔗 Migrate now: https://migrate.venom.network/
🌉 ChainConnect Bridge: https://app.chainconnect.com/bridge

🙏 Thank you for your patience during this process. If you have any questions regarding the bridge or the migration, our support team will be glad to help you.

⚠️ Refrain from Bridge Transactions During Final Testing ⚠️

Great news: the ChainConnect bridge has been thoroughly vetted and cleared to resume its full scope of operations.

✅ The vulnerability has been eliminated and all user funds are safe.

The relaunch of the bridge is imminent. We ask that users temporarily refrain from using the bridge platform while the final tests are being concluded.

📢 We will publish an announcement shortly, once the final tests are complete.

Thank you for your patience.

🏆 Unlock New Roles and Prizes 🏆

The Venom Discord is the beating heart of the community. More than just a place to discuss all the latest, the server is a place where users can contribute to network growth and earn rewards for doing so.

🚀 We a have a number of server roles for contributors. Higher ranks unlock priority giveaways, exclusive events, and bigger rewards.

Current roles:

• Ambassador — 561
• Associate — 676
• Bachelor — 205
• Master — 31
• Doctor — 9

👀 Your place in the community is waiting. Join here: 🔗 https://discord.gg/venomfoundation and start stacking.

⏳ Still Time to Compete for 250,000 $VENOM Prize Pool ⏳

ICYMI: 🏆 Origami Tech is currently hosting a Venom trading competition on KuCoin.

📅 End Date: August 22, 12:00 UTC

Join in and leverage your trading skills to win prize money while you still have the chance.

📈 Reminder: this is a Grid League event, which means that it is based on volume: the more you trade, the higher your rank, the bigger your share of the winnings.

🔗 Join the competition now and win your share of the prize pool: https://app.origami.tech/competitions/233

📰 Bridges Are Crypto’s Achilles’ Heel: A New HackerNoon Article by VF CEO Christopher Louis Tsu 📰

Venom Foundation CEO Christopher Louis Tsu breaks down why bridges keep getting hit hard, why the real test isn’t just the code or the audits, and what actually separates solid teams when something breaks in his latest article on HackerNoon.

🔑 Key to correcting the problem are speed, precision, verified info, and real preparation.

👉 Check out the full article here: 🔗 https://hackernoon.com/bridges-are-cryptos-weakest-point-incident-response-is-the-real-test

💰 $100 GIVEAWAY 💰

To Participate:

1️⃣ Follow Venom on 𝕏
2️⃣ Like & RT & bookmark this post on 𝕏 🔁
3️⃣ Tweet the text below on your Twitter (𝕏) page:

💰250K $VENOM Trading Competition is LIVE!

@Venom_network_ launched a Grid League on @origamitech_

💱Pair: VENOM/ $USDT on @kucoincom
📅Until Aug 22
💰Prize Pool: 250K VENOM

Climb the leaderboard & grab your share of rewards👉 https://cutt.ly/LyauQsuN
#Trading #KuCoin #Giveaway

4️⃣ Send a link to your tweet in the comments below this post on 𝕏

And you're in! ✅

On Aug 22, twenty random winners will share the pool equally.

🏆 New Venom × Origami Tech Trading Competition on KuCoin 🏆

Ready to prove your trading skills?

@origami_tech is launching a new trading comp with a 250,000 $VENOM prize pool on KuCoin.

📅 Competition period:
August 8, 12:00 UTC – August 22, 12:00 UTC

📊 This is a Grid League event, which means that it is based on volume: the more you trade, the higher your rank, the bigger your share of the winnings.

🔗 Join the competition now and win your share of the prize pool: https://app.origami.tech/competitions/233

💰 Venom Discord Rewards Live 💰

Active rewards right now on Venom Discord:

• $100 giveaway for Ambassadors every 10 days
• $50 giveaways rotating across Associate → Bachelor → Master → Doctor every 10 days
• $100 X.com giveaway every two weeks
• Regular quizzes on Venom, blockchain & Bitcoin - win USDT + XP

No passive watching. ⚡️ Participate and get paid.

👉 Get started: https://discord.gg/venomfoundation

⚡️ Switch to SparX: the cutting-edge wallet for Venom’s upgraded protocol ⚡️

⬇️ What's awaiting you:

• Same addresses & seed phrases
• Staking/unstaking built-in
• Unified ecosystem experience
• Better UX and architecture

📲 Download: https://sparxwallet.com/download

🛡 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: https://t.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/

​​🎁 100 QUANTS WL GIVEAWAY! 🎁

We are giving away a whopping 100 free WL spots for the new Quants NFT collection! 🤩

If you were to mint these yourself, it would cost a total of 75 SOL (~$5,800)! 🔥

We have split the prize pool into two parts:

🔹 Discord Giveaway (50 WL Spots)

Exclusively for Ambassadors.

1️⃣ Not an Ambassador yet? It's super easy to become one! Follow the guide and fill out the form here: LINK 🔗 (You can apply and earn the role until the giveaway ends).

2️⃣ Already an Ambassador? Make sure your Discord profile meets all requirements.

3️⃣ Go to our Discord, find the giveaway post, and click the "Participate" button 👉 LINK 🔗

🔸 Twitter/𝕏 Giveaway (50 WL Spots)

Open to everyone!

1️⃣ Follow Venom Network on 𝕏.
2️⃣ Like & Repost the giveaway tweet.
3️⃣ Join our Discord: https://discord.gg/venomfoundation
4️⃣ Drop a screenshot proving you've joined our Discord in the comments under the tweet!

⏳ Details & Rewards:
• 🏆 Total Prize Pool: 100 WL spots (50 on Discord + 50 on X).
• 📆 End Date: July 22.

Take part in both to double up your chances! 🚀

⏳ Stage 5 Venom Quests Update ⏳

Due to the ongoing network migration, Stage 5 of Season 6 of Venom Quests has been postponed and is now expected to start within the next 7–14 days.

👉 Because we are switching to the new protocol, users will have to transfer their tokens over to the new network. While we prepare for the launch of Stage 5, you can migrate your $VENOM and $USDT via a 1:1 swap using the official portal: 🔗 https://migrate.venom.network

👀 Please stay tuned for further updates.

Thank you for your patience! 🙏