Notification from traps display $V1$ in Event Text instead of the actual varbind information as in the following example:
Authentication failure from host $V1$
The incoming trap is processed by a trap definition that is defined in trap_mgr.conf configuration file with EventText including $V1$.
However, the incoming trap does not include any varbinds, so the EventText is taken literally, as $V1$ text.
To resolve this issue, do the following: