Justin Sun Withdraws Multiple Billion Assets From Aave Defi Platform

The Founder Of The Tron Crypto Project, Justin Sun, Has Pulled Billions Of Dollars In Liquidity From The Pools Of The Defi Platform Aave, Blockchain Data Shows.

This Was Preceded By A Dispute Between Members Of The Communities Yearn.finance And Aave, Notes The Block . Yearn.finance Founder André Cronier Claims That Aave Has The Same Vulnerability That Led To The Theft Of $ 130 Million From Cream Finance Pools This Week.

“You probably don’t need to criticize other projects when you yourself have an 11-character hole,” wrote the lead developer of Yearn.Finance under the nickname banteg.

Aave, In Turn, Acknowledged The Existence Of Concerns About The Vulnerability That Can Manifest Itself When Using Xsushi Tokens As Collateral. The Developers, However, Claim That They Conducted Tests During Which They Were Convinced Of The Unprofitableness Of This Attack Vector For A Potential Hacker. At The Same Time, They Opened A Vote Among Aave Token Holders To Discontinue Collateral In Xsushi As A Precautionary Measure.

“Let’s work together, support each other and, more importantly, win together,” wrote Aave founder Stani Kulechov.

As A Result Of The Sharp Decline In Liquidity, Interest Rates Rose On Aave. For Example, For A Deposit In Usdt, They Reached 70% Per Annum, While Not Long Ago They Were About 3%. With The Current Usdt 812 Million In Lending On The Platform, There Is Free Liquidity For Only 4 Million. The Percentage Of Use Of Assets Is Now 99.5%, Although It Is Usually Kept At About 90%.

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