Binance hacker moves $59.9M into Aave before freeze

Following a historic cryptocurrency exploit resulting in a 5.6 billion dollar loss on Binance, an attacker deposited 60 million dollars of stolen USDT into Aave and borrowed 44.6 million dollars in WETH. The author argues that Aave remains safe because the position is overcollateralized and its contracts were never compromised. Aave responded by forming a joint emergency group within 10 minutes and freezing supply and borrowing across 16 networks. Open article →