Ethereum Protocol Losing $1.6 Billion From CRV Has Suspended 17 Tokens!

With a total locked value of over $3.65 billion on Ethereum (ETH) largest lending protocol aavehas made a new decision after a bad incident last week for the CRV token.

Last week Aave CRV There was an attack targeting the pool and causing $ 1.6 million worth of damage to the protocol.

After this loss, Aave has released multiple Ethereum-based 17 low-liquidity tokens and tokens in order to prevent such incidents from happening again and to protect against possible attacks. stablecoin temporarily froze lending markets for

Among the lending markets that Aave considers to be low liquidity Yearn.finance, Curve DAO, 0x, Decentraland, 1inch, Basic Attention Token, Ampleforth, DeFi Pulse Index, renFIL and Maker, Enjin and SUSHI exists.

As for stablecoins sUSD, GUSD, RAI, USDP and LUSD was stated.

Aave took this temporary suspension decision after members of the management proposed to cease lending for the 17 tokens in question, which they considered low liquidity and described as volatile.

Aave announced that in the name of risk management it will not allow users to deposit these assets or take out loans on the platform.

The following statements were included in the temporary stop offer for 17 tokens:

“In response to recent market events and the continued contraction of liquidity across markets, this offer for 17 tokens aims to reduce the risk profile in many highly volatile assets.”

aavestated that it has enough funds to pay off $ 1.6 billion in debt after the incident last week, but it wants to prevent such events from happening in the future by freezing the low liquidity asset pools against Aave.